Cyber Liability Insurance for NJ Businesses

Cyber Liability Insurance

Digital data has become engrained into our everyday life, and NJ businesses have to factor in the cost of data loss, theft and damages in the future. Get a free cyber liability quote with LG Insurance to protect your business.

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According to the Ponemon Institute, 43% of American companies have experienced some type of data breach in the past few years. In 2016 alone, millions of Americans had their private information compromised via data breaches at companies like LinkedIn, Wendy’s, the IRS and countless others.

Thankfully, Cyber Liability Insurance policies exists to help you prepare for the unexpected.

What Does Cyber Liability Insurance Policy Cover?

Cyber Liability is a broad heading for insurance related to the theft or breach of data, money, reputation and ultimately the loss of customers as a result of these damages.

A cyber liability insurance policy can have many components depending on the nature of the business, but in general, coverage includes:

Privacy Notification
Crisis Management Expense
Regulatory Defense
Information security
Privacy Liability
Website Media
Business Interruption

Extra Expenses
Cyber Extortion
Cyber Fraud
Computer Fraud
Lost or Stolen Laptops
Phishing Scams

The Cost of a Cyber Attack

The costs associated with a cyber-attack are detailed in the below chart:

Various costs associated with a cyber attack.

Any company that accepts credit cards or engages in commerce over the internet including companies that house personal identifiable information, are at risk and could be liable in the event of a cybercrime.

Get a Free Cyber Liability Quote with LG

At LG Insurance Agency we pride ourselves on being a small business with big business backing. We work with some of the nation’s most trusted insurers, including Travelers, Guard, The Hartford and Utica National. But even with such big names behind us, we’re committed to serving local NJ businesses like yours. We strive to provide you with personalized small business insurance policies that fit your unique business needs.