What is Cyber Liability Insurance?
Any business that provides professional online services, from email to marketing services to e-commerce, can face severe losses with a network security breach or when their published content harms another party. In addition to losing revenue, they can be sued for defamation, libel or slander, copyright or trademark infringement, invasion of privacy and more.
CMI writes Cyber Liability policies that protect online businesses from lost income and the immense financial costs involved in litigation.
Why it’s smart to have Cyber Liability Insurance
A hacker overwhelmed several large web sites through multiple distributed denial of service (DDOS) attacks. The culprit hijacked various computers throughout the world to bombard target servers with seemingly legitimate requests for data. The DDOS attacks, which interrupted the sites ability to efficiently conduct their business, caused over $1.2 billion in lost income.