Cyber Liability vs. Data Privacy Coverage

Although some carriers and individuals lump Cyber Liability and Data Privacy coverages together, they are different coverages. I wanted to take a few seconds to discuss the differences in the coverages.

Cyber Liability coverage covers any liabilities that occur through a website, network or other technology your business uses. If a customer uses your web portal to spread a virus to other users, this would be a cyber liability. If a hacker steals money by hacking into your network, this would be covered under your cyber liability policy. However, typically one of the first things excluded in a cyber liability policy is the theft or loss of data which is why you need a data privacy policy as well. As I’ve discussed in earlier posts, data privacy insurance covers costs associated with a data breach. That breach can occur because data was either electronically lost or stolen or physically lost or stolen. For more information on these coverages, feel free to call me or e-mail me.

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