The technology landscape has changed drastically over the past decade, resulting in a faster, more efficient way of managing a business. But with that speed and efficiency comes a whole new set or risks, from which all New York businesses must be mindful of staying protected.
Cyber security poses a tremendous threat to any New York business, big or small. A data breach can result in financial loss, customer-base loss, and damage to your company’s reputation. While you may think you’re protected from online threats through a traditional liability policy, these types of intricate claims require a New York cyber insurance policy to ensure your business is sufficiently protected.
There are two types of losses your business is privy to in the face of a cyber threat: a first party loss (any loss suffered directly by your business), or a third party loss (liability you face to an outside party). A New York cyber insurance policy provides coverages to protect you in both loss cases.
Cyber insurance policy coverage includes: