Insurance that helps businesses respond to and recover from data breaches, ransomware attacks, and other cyber incidents. It covers costs such as data recovery, customer notification, credit monitoring, legal fees, regulatory fines, and business income lost during the event.
Related Terms
Business Interruption Insurance
Coverage that replaces lost income and pays ongoing expenses when a business is temporarily shut down due to a covered event such as a fire, natural disaster, or other insured peril. It helps businesses survive financially until they can resume normal operations.
Commercial General Liability
Insurance that protects businesses against claims of bodily injury, property damage, and personal or advertising injury caused by business operations, products, or events on business premises. CGL is one of the most fundamental coverages for any business.
Errors and Omissions Insurance
Professional liability coverage that protects businesses and individuals against claims of negligence, mistakes, or failure to deliver professional services as promised. Also known as E&O insurance, it is essential for consultants, accountants, real estate agents, and other service professionals.