Cyber liability is one of the newest emerging coverages available for businesses today. While there are several subparts of a cyber policy, the two key areas are the following:
1) liability for claims from the electronic release of data that was stolen from your computer systems, and
2) ransomware….which is the shutdown of your computer system and backups from criminals. These criminals demand every increasing ransom to release your system from “jail” and threaten to corrupt or destroy your system if you do not pay.
These threats are legitimate. While the criminals may allow some time for the business to reach the conclusion that re-establishment of systems are not possible, in the final analysis, they will corrupt or destroy the system.
Cyber liability policies pay for the types of claims listed above and more. We encourage any business owner or leader who views this page to contact Capitol Risk Solutions. We excel in the area and have unique expertise to guide your business toward the best solution.