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.

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