This guide provides an in-depth look at cyber liability insurance by giving an overview of data breaches and how cyber liability protects companies.
OKLAHOMA CITY, May 22, 2024 /PRNewswire-PRWeb/ -- Tivly has announced the release of its latest resource "Facts About Cyber Liability Insurance." This resource educates consumers on cyber liability insurance by covering why and how data breaches happen, the costs associated with cyber attacks, and how cyber insurance protects companies.
Data breaches occur when hackers gain access to personal information through illegal ways, and the data gained is often used as an extortion measure as cyber criminals charge money to get the personal information back. Ransomware and malware through the company's computer software system are the primary ways cyber criminals gain access to the information, but it can be done in a multitude of ways. Due to the reliance on the Internet, businesses should invest in cyber liability insurance. Following a data breach or cyber attack, companies are faced with costs from liability, system recovery, customer notifications, regulatory fines, and class action lawsuits.
Companies with cyber liability insurance are protected against data loss and recovery, identity theft, cyber extortion, business interruption, general liability, and business reputation recovery. A company's customer base is protected through cyber insurance policies through notifications, restoring data, recovering data, and troubleshooting to fix the breach. "Consumer trust in a company is vital to its operation, and that's why cyber liability insurance is important," according to Tivly.
To learn more about cyber liability insurance, please visit Tivly here.
About Tivly:
Tivly is a two-sided marketplace that matches businesses to insurance providers. Tivly is a partner of over 200 insurance agents, brokers, and carriers looking to connect with specific types of businesses that are actively searching for commercial insurance coverage.
Media Contact
Mike McGee, Tivly, (877) 907-5267, [email protected], https://tivly.com
SOURCE Tivly
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