Cyber Liability Insurance is insurance coverage designed to protect businesses and organizations from financial losses and liabilities arising from data breaches, cyber-attacks, or other cyber incidents. It typically covers costs related to data breaches, including notification expenses, credit monitoring, legal fees, and damages to affected parties. Cyber liability insurance aims to mitigate the financial impact and reputational damage from cyber incidents.
Since January 2010, over two million Massachusetts residents have been impacted by data breaches, with 25% attributed to deliberate hacking and 15% involving theft of credit card numbers. The recent Sony breach exposed personal data of over 100 million customers, illustrating the pervasive threat of cyber attacks across businesses of all sizes.
The Wall Street Journal recently highlighted that cybercriminals increasingly target small businesses, with 482 out of 761 attacks in 2010 hitting companies with fewer than 100 employees. To protect your business, consider cyber liability insurance.
If your business uses email, a website, or stores data electronically, it likely faces cyber risks. Cyber Liability insurance helps protect against those risks. Call Murphy Insurance at 800-222-8711 to learn more.
Murphy Insurance Agency provides insurance solutions across Massachusetts and New England. Where you live is not a barrier to our assisting you. We are proud to serve the communities where our customers live and work, including Acton, Ashland, Ayer, Bellingham, Berlin, Blackstone, Bolton, Boston, Boxborough, Boylston, Chelmsford, Clinton, Concord, Devens, Dunstable, Fitchburg, Foxborough, Framingham, Franklin, Groton, Harvard, Holliston, Hopedale, Hopkinton, Hudson, Lancaster, Leominster, Littleton, Lunenburg, Marlborough, Maynard, Medfield, Medway, Mendon, Milford, Millis, Millville, Natick, Norfolk, Northborough, Northbridge, Pepperell, Sherborn, Shirley, Shrewsbury, Southborough, Sterling, Stow, Sudbury, Townsend, Upton, Uxbridge, Wayland, Westborough, Westford, Weston, Whitinsville, Worcester, and last but not least, Wrentham.