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You Might Have Insurance, But Is Your Company Cyber Covered?

October 2, 2017 1:43 pm

Your company is likely insured to cover a variety of business risks. Some of the most common business coverages include general liability insurance, product liability insurance, professional liability insurance, commercial property insurance and perhaps specialty coverages depending on your business needs. Most business managers assume that they are well protected. However, it is time for an insurance review that includes a relatively new, yet potentially devastating risk: cyber crime. Most insurance companies exclude electronic data under the definition of ‘covered property’. General liability coverages are designed for bodily injury or property damage, and these are narrowly defined in the policy,...