Cyber liability insurance helps cover your business from cyber-attacks.

Protect your Florida business against the costs of data breaches with cyber liability insurance.

Data breaches and other cyber crimes are becoming more common, presenting significant risks for companies that deal with sensitive information. Companies that become victims of these incidents face liability issues, losses due to downtime, and recovery costs. 

To protect against cyber crimes and data breaches, businesses need cyber insurance. Cyber insurance helps businesses protect against threats to their electronic systems. When a covered incident occurs, these policies can help cover damages suffered by your business and customers.

What Does Cyber Insurance Cover? 

When your business is subjected to a data breach or other covered event, cyber insurance can help cover costs like: 

Cyber insurance protects both large and small businesses against a variety of expenses that they may incur due to data breaches, data loss, and other cyber crimes.  

What Isn’t Covered? 

Cyber insurance does not cover losses that are indirectly caused by cyber crimes. For example, loss of IP due to a data breach is typically not covered by cyber insurance. Similarly, damage to your brand’s image due to a data breach is usually not a covered loss. Additionally, cyber insurance does not cover incidents covered by common business insurance policies such as general liability, commercial property, or business income insurance. 

Cyber Insurance FAQs 

Still have questions? Here’s everything you need to know about cyber insurance in Florida: 

Who needs cyber insurance? 

Cyber insurance is ideal for any business that processes and/or stores sensitive information, including names, addresses, payment information, social security numbers, medical information, or other identifying information. This can include financial firms, retailers, real estate agents, consultants, marketing firms, restaurants, and other types of businesses. 

How much does cyber insurance cost? 

The cost of cyber insurance depends largely on your company’s risk of being exposed to a cyber crime and your coverage needs. Other factors that may affect your rate include:  

• Type of business 
• Network security measures 
• Claims history 
• And more 

An NSI agent will work with you to find a policy that meets your budget and coverage needs. 

Does errors and omissions (E&O) insurance cover cyber crimes? 

No, E&O insurance does not cover data breaches and cyber crimes. E&O protects businesses in case their product or service does not perform as it is meant to, in which case a customer may accuse the business of negligence or offering a deficient product.