Cyber Liability

Every company, small to large, is subject to cyber risk. We'll help you get cyber liability insurance to cover financial losses incurred from data breaches and other cyber technology related issues.

What is Cyber Liability?

Running a business means facing physical risks such as property damage or injuries. However, another potential risk you may encounter comes from using technology.

Your company is or may be a target of a cyberattack. These could be ransomware, phishing emails, malware, or data breaches. Not only will these compromise your operations, but also your reputation and your customers' and employees' sensitive information. Additionally, you could lose money to phishing attacks or lose your business due to ransomware demand.

Cyber liability insurance is designed to cover data, privacy, and network exposures. This policy will help you respond to liability claims and help you recover from financial losses caused by attacks or breaches.

Who needs Cyber Liability Insurance?

Anyone can fall victim to cyber-attacks. Your business may become a target, especially if you:
  • Accept credit cards or any form of digital payment
  • Operate with computers and mobile devices
  • Store medical or financial information
  • Keep sensitive customer information

Cyber Liability coverages

Cyber exposures keep evolving, so you have to make sure that you have adequate coverage to protect your business if a cyber attack happens.
Make sure your Cyber liability insurance has coverage for:
  • Data loss, recovery, and recreation
  • Business operations interruption or loss of revenue due to data breach
  • Loss of income due to phishing
  • Cyber attacks on your data held by vendors or third parties
  • Media Liability
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​Additionally, you might want to consider whether your cyber liability insurance provider will cover the costs incurred to defend yourself against privacy lawsuits and regulatory investigations.

Two types of cyber liability insurance

Aside from helping you cover expenses due to breaches or stolen data(first-party coverage), you may face lawsuits from your clients for failing to prevent a data breach(third-party coverage).

First-party coverage, sometimes called data breach insurance, helps cover expenses directly impacting your business. Not only does it help you with costs incurred from hacking or data breaches, but it also helps clear the costs of notifying customers and paying for credit monitoring services for those affected.

For companies that gather client credit card information, first-party coverage is typically advised.  It can cover:
  • Cyber extortion payments
  • Breach investigation
  • Notifying affected customers
  • Customer credit and fraud monitoring services
  • Crisis management and media coverage
  • Business interruption costs, such as the cost of hiring additional staff, renting equipment, or purchasing third-party services

A client might sue your business for not preventing a data breach or cyberattack at their company. The third-party coverage will help you settle costs of legal defense, including:
  • Settlements
  • Judgments you are legally obligated to pay
  • Accounting costs
  • Other court costs
Get online Cyber Liability Insurance quote here. You may also call Arena Insurance Brokers, Inc. at 913-363-1300.
(913) 363-1300
Westwood Office:
4705 Mission Road
Westwood, KS 66205​

Overland Park Office:
8011 College Blvd.,
Suite 100
Overland Park, KS 66210​​
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