Click Here and Learn about our Industry Recognized All-In-One Cybersecurity Platform

  • Home
  • About
  • Services
  • Contact Us
  • Cyber Resilience
  • More
    • Home
    • About
    • Services
    • Contact Us
    • Cyber Resilience
  • Sign In
  • Create Account

  • My Account
  • Signed in as:

  • filler@godaddy.com


  • My Account
  • Sign out

Signed in as:

filler@godaddy.com

  • Home
  • About
  • Services
  • Contact Us
  • Cyber Resilience

Account


  • My Account
  • Sign out


  • Sign In
  • My Account

CyberTrust - Helping You Select and Negotiate Bullet-Proof Cyber Liability Insurance Coverage

As with any insurance contract it all comes down to the finer details. With Cyber Liability insurance these details can have a significant impact on your ability to successfully have a claim processed when you most need it.


CyberTrust understands these details and more. Whether it be regulatory compliance pre-requisites, incident reporting SLAs, third-party vendor protection or a host of many other factors; we can help you pick the right insurance provider, the right insurance product and negotiate the best terms & the lowest premiums, all while making sure your business meets all the necessary pre-requisites.

Why You Must Seriously Consider Buying a Cyber Insurance Policy

 The following is just a very small set of hundreds of statistics which point to the need for businesses to take a hard look at procuring Cyber Liability Insurance:


  • Of the cyber insurance claims made in the past 7 years, 73% were related to data breaches, incident response, and crisis management. 
  • Small and medium-sized businesses have become a prime target for cyber-attacks, with over 56% of claims originating from companies with less than 25 million dollars in revenue. 
  • The average cost of a cyber insurance claim for an SMB is approximately $345,000. 
  • Ransomware was the main cause of recovery expense losses, accounting for 81% of such claims. 
  • The frequency of cyber insurance claims has increased by 100% in the past three years. 
  • This couples with a 200% increase in claims that were closed with payments. 

Common Cyber Insurance Coverage Plans

  •  First-party coverage covers the direct losses incurred by an organization because of a cyber incident. This can include expenses such as forensic investigation and remediation, data recovery, business      interruption, breach counsel, notification expenses, and more. This type of coverage may be referred to as “Event Response & Management Coverage.”
  • Third-party coverage covers the liability that an organization may incur to third parties because of a cyber incident. This can include expenses such as damages to third-party property, regulatory fines, and class action lawsuits.
  • Privacy liability coverage covers the costs associated with defending a company against claims that it has violated the privacy of its customers or employees. This can include expenses such as legal fees and monetary settlements.
  • Network security and privacy liability covers the costs associated with defending a      company against claims that it has failed to adequately protect its computer networks and data. This coverage type applies to liabilities to third parties — clients, business partners, etc. that are related to the breach or theft of confidential data or the transmission of malware via the businesses’ networks to said third parties. This can include expenses such as legal fees and monetary settlements.
  • Media liability covers libel, copyright or trademark infringement, slander, defamation, and related media risks.
  • Errors and omissions coverage covers the costs associated with defending a company against claims that it has made negligent errors or omissions in its handling of electronic data. This can include expenses such as legal fees and monetary settlements.
  • Business interruption coverage covers the lost profits and other top-line expenses that a company incurs because of a cyber incident that disrupts its business operations.
  • Cyber extortion (Ransomware) coverage covers the costs associated with defending a      company against extortion attempts by hackers who threaten to release sensitive data if they are not paid a ransom. This includes expenses for hiring a Ransomware negotiator or even the payment of a ransom (which is not recommended).

Connect with a Cyber-Insurance Professional

Copyright © 2023 CyberTrust LLC - All Rights Reserved.

This website uses cookies.

We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.

Accept