Cyber Liability in California
Do you own a business in Arizona, Oregon, Nevada, or California? If so, you need to make sure that cyber liability insurance is a part of your business insurance policy. Cyberattacks are on the rise and if your company stores customer data and other secure information, this is a must-have policy. We offer cyber liability insurance here at Avail Insurance Solutions LLC in Oakland CA.
Cyber Liability Insurance Requirements
There are no state laws in California that require California businesses to obtain cyber liability insurance for their businesses. However, it is important to have as it is highly recommended. It enables businesses to comply with regulations in the state of California that require a company to notify a customer if a data breach has taken place. This data breach, however, must involve personally identifiable information.
Cyber Liability Insurance Coverage
Cyber liability policies enable you to feel confident that you are protected in the event of a data breach or any other related problems such as:
- Data compromise coverage - This will protect both customer and employee information if data in your company’s system was to be stolen, hacked, or corrupted in some way.
- Legal cost coverage - This will help cover you for any legal fees that your company has incurred via legal reviews.
- Identity recovery coverage - This will help to identify victims of fraud and help re-establish the victim’s records and credit history. This also includes employees, owners, and family members of the affected.
Cyber liability insurance will also help your business in the following ways:
- Provide your business with forensic services to help determine the extent and nature as well as the perpetrators behind a data breach.
- Provide your company with personal services for those who have been affected including helpline companies, case managers, and credit monitoring services used to help identify victims of theft.
To obtain a quote for cyber liability insurance in Arizona, Nevada, Oregon, or California, please contact Avail Insurance Solutions LLC today. Our office is located in Oakland CA.