Posted on Nov 28, 2018
G a Mavon & Co
Anything from a privacy breach (a failure to protect personally identifiable information) to a full security breach (unauthorized access to or release of sensitive or confidential data) can constitute a data breach and can cause a third-party liability loss. Third-party cyber insurance provides liability coverage for businesses that are responsible for a client’s online security. This coverage would provide protection for potential liability connected to a data breach (a hack, a successful phishing attempt, or other attacks), including costs the customer would incur in cleaning up the aftermath of such a cyber event.