It seems more and more common to learn about massive customer data breaches during the evening news and across social media. Even the world’s biggest, seemingly most secure banks and retailers seem to be constantly falling victim to hackers and other criminals. These hackers manage to gain access to credit card numbers, social security numbers, and other personal information. The results can be devastating – personally, financially, and legally.
When these data breaches occur, customers have a right to demand that the company breached be held accountable for the incident. Without proper insurance coverage in place, you could quickly find yourself mired in an extremely costly legal situation. Now more than ever, it is critically important for your company to maintain comprehensive Pennsylvania cyber liability insurance. This policy will not only help pay the damages associated with any future cyber attack, but will cover other related expenses. Examples include legal defense bills, public relations problems, notification and remediation expenses, and forensic investigation costs.
If your company accidentally releases private information (even if nobody uses or steals it) you could still be held liable for remediation costs. A Pennsylvania cyber liability insurance policy will cover you in the event such an incident occurs. It also offers protection against accidental malicious code transmission that harms another party. Ensure your company is properly protected with a cyber liability policy.