Cyber Insurance Experts

It doesn't matter what type of business you own or manage - anyone is susceptible to cyber attacks. The team at Zeigler Insurance can build a custom cyber solution, so you can rest easy knowing your business is protected from one of the most damaging losses imaginable.

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Cyber Insurance Is Serious Business

Unfortunately, data breaches and other cyber crimes are becoming way too common. In the past couple years, data breaches have resulted in major fines and legal fees - not to mention headaches - for a discount retail chain, one of the nation\'s largest banks, a well-known health insurer, an entertainment network and the federal government.

But it's not just large organizations that are susceptible to being hacked or getting a virus. Did you know that 55% of small businesses have experienced a data breach and that 53% have had multiple breaches?

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What Cyber Insurance Covers

These are just a few areas in which a cyber insurance policy will protect your business. Don't know what some of these mean? All the more reason to talk to one of our cyber advisors.

Ransom Coverage

Ransom coverage in cyber insurance refers to the portion of a cyber insurance policy designed to cover costs associated with ransomware attacks or extortion incidents. Ransomware is a type of malware that locks or encrypts a victim's data, rendering it inaccessible until a ransom is paid. Ransom coverage provides financial and logistical support to organizations dealing with such incidents.

Social Engineering

Social engineering in the context of cybersecurity refers to the manipulation of individuals into performing actions or divulging confidential information. It exploits human psychology rather than technical hacking techniques to breach systems or obtain sensitive data.

Regulatory Fines

Regulatory fines are monetary penalties imposed by regulatory authorities on organizations or individuals for non-compliance with laws, regulations, or industry standards. These fines are intended to enforce legal compliance, deter future violations, and protect public interests, including health, safety, financial stability, and environmental conservation.

Cyber Extorsion

Cyber extortion is a type of online crime in which attackers demand money or other benefits from victims by threatening to cause harm through digital means. This harm can include data theft, system disruption, exposure of sensitive information, or other malicious actions. The attackers typically demand payment, often in cryptocurrency, in exchange for refraining from carrying out their threats.

1st Party vs. 3rd Party

1st Party Cyber and 3rd Party Cyber refer to the types of coverage and liabilities associated with cyber risks in cyber insurance policies. They address different aspects of risk based on whether the affected entity is the policyholder 1st party cyber coverage focuses on the direct costs and losses that a business or individual incurs as a result of a cyber incident. or another party. 3rd party cyber coverage protects the policyholder from claims and liabilities arising from cyber incidents that affect other entities due to the policyholder's actions or negligence.

Business Interruption

Business Interruption Coverage for Cyber refers to a component of cyber insurance that compensates organizations for financial losses resulting from the disruption of their operations due to a cyber incident. It is designed to help businesses recover lost income and cover additional expenses incurred while their systems are down or recovering from an attack.

Won't My Current Insurance Cover Cyber Damages?

General liability insurance covers bodily injuries and property damage resulting from your products, services or operations. Cyber insurance is often excluded from a general liability policy.

Most states require companies to notify customers of a data breach involving personally identifiable information, which is a process that can be very expensive, but at the same time the least of your worries should such a claim arise.

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