What is Cyber Liability Insurance?

Cyber Liability insurance delivers financial protection and coverage for the wide range of cyber incidents that impact businesses, including but not limited to network incidents, email scams, ransomware attacks, cybercrime, and social engineering.  If there's a system breach, your company is responsible for the cost of each individual whose records were exposed.  It costs approximately $250 per year to monitor one person's credit activity.  These costs can add up quickly, but Cyber Liability provides coverage for this event.

If you utilize a 3rd party service to store data or process payments, the entirety of that risk is not transferred to them.  It is important to have protection against losses or damages in the event of a data breach because your business is still responsible for holding personally identifiable information about your clients.  Examples of personally identifiable information may include: passwords, order history, emails, addresses, client notes, payment details, etc. 

If you would like to review a Cyber Liability quote, please follow this link, select Fitness / Wellness Studios And Gyms and Cyber Insurance to complete an application. 

Coverage is offered through our partners, Nexo Insurance Services, Inc.