Cyber Insurance is new territory in Rockville and Bethesda

Cyber Insurance is new territory in Rockville and Bethesda

Cyber insurance is often overlooked despite the fact that cybercrime is on the rise. Viruses, cyber-attacks, network security breaches and online fraud are just a few of the issues that face companies and carriers alike. What would happen to your business if you suffered a serious data breach, denial of service attack or if your computer systems are compromised due to cyber-crime? For many this is new territory despite the fact that cyber liability insurance has been around for almost a decade.

If you need advice and assistance with cyber insurance in Bethesda, Frederick, Gaithersburg, Maryland or Rockville, then you should consult with the experts at Lowe-Tillson agency.

Cyber insurance is a form of risk mitigation in the event of a cyber-attack and data breach.  Cyber Liability Insurance Cover (CLIC) is a term that you will come across when you start looking in the implications of network security and data breaches and insurance options.

This type of insurance can cover you for data breach and expenses related to damage control, investigation, remediation, legal costs and liability claims. Cyber Insurance can also cover you in the event that your website is defaced or compromised or if you suffer intellectual property losses. Other possible coverage’s could extend to extortion as well as third party damages as a result of loss of service or data and privacy infringement. The fast changing landscape in our connected world makes this type of insurance complicated and challenging.

Not many insurance agents are competent when it comes to cyber insurance. You need to consult the right brokers in order to obtain cyber-insurance that is suitable for your business.  An expert cyber insurance broker such Lowe-Tillson understands the risks and costs associated with cyber-attacks and data breaches. An expert broker will also know with which carriers to negotiate regarding a suitable policy that covers your cyber risks.