IT business owners need Cyber Liability coverage to protect their client’s information that is stored on servers owned by IT companies.  Cyber Liability coverage is generally available and written as part of a Technology Professional Liability insurance policy.  Every company that stores information, whether it’s inside their premises or with an outside vendor, should consider this insurance. If you are concerned about loss of data, theft, and breach of data, or if you are hosting the information of others, Cyber Liability coverage should be considered.  IT firms acting as a host to other company’s information should invest in Cyber Liability coverage.


Here are some examples of what cyber liability coverage protects:

  1. Loss of private information or data
  2. Invasion of privacy issues after confidential data is disclosed
  3. Data tampering
  4. Website attacks
  5. Loss of data rebuilding expenses from malware issues and cyber terrorism
  6. System restore expenses
  7. Business interruption coverage
  8. Libel and Slander injury
  9. Investigation and defense expenses
  10. Public Relation expenses during restoration

If you are an IT company and involved in data breach as the host company you could be held responsible for reimbursement of many or all of these costs associated with correcting or rebuilding your client’s data base and reputation. If you own an IT company and your consultants that work with other company’s private data that is ultimately damaged or stolen, Cyber Liability insurance would protect this loss.

There have been serious security breaches in the cyber world, most of which could easily happen to your company.  Your company and your clients could be subject to identity theft or credit problems if a hacker breaks into your records and threatens to sell your info to the “bad guys”.  This scenario could be as simple as someone stealing a flash drive from an employee laptop!  However, there have been some recent data breaches that have dominated the national news.  Sony and Target are just a couple examples, but there are plenty of others and it gets worse year after year.  

Protect yourself and your company from cyber disaster with a Cyber Liability insurance policy!

The coverage experts at InsuranceTrak can help you shop for the best Cyber Liability insurance coverage when crafting your technology insurance plan.  The other common types of business insurance for technology companies are listed below:

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