Cyber liability insurance in Texas must strongly be considered in a business insurance portfolio. One of the misconceptions that many businesses that cyber-attacks only happen to large businesses. In fact, a recent report by Verizon stated that 61% of all cyber attacks happen to small businesses. The thought behind this is that most smaller businesses are less likely to have a strong defense. Hackers commonly target retailers, healthcare organizations, and financial service providers. Cyber Liability insurance plays a key role in a business insurance portfolio for companies that handle sensitive information, work in the cloud, or operate cybersecurity.
Cyber liability insurance is broken down two types of cyber liability insurance First party and third party coverage. First-party coverage helps cover expenses when your network is hacked or your data is stolen. Third-party coverage offers protection when a client sues your company for failing to prevent a breach of their computer system.
The price of cyber liability is determined similarly to other insurance policies. Businesses that handle large amounts of sensitive data typically pay a higher premium for cyber liability insurance. Higher rates do belong to healthcare professionals, retailers, banks, and information technology firms or other businesses that handle large volumes of sensitive data.
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Some kind words from our respected clients
“Fantastic!”
“Chris has handled both my personal and business insurance needs in both a timely and professional manner. He’s easily accessible and very responsive. I’ve referred business customers of mine to him and he’s treated them the same way he did me. I would highly recommend Chris for all your insurance needs.”
Steve Jones- SRJ Financial
“Partner”
“Appointing Chris as our broker to all of our policies has been a key decision in our business. We’ve worked with multiple brokers over the last 13 years and Chris has been great to work with. Chris has spent time to ensure we, as his clients, understand what the policy entails and does/ does/not cover in order to make the most educated decisions for our business. Chris cares about our business and for creating a long-term relationship with us, he has explained our workers compensation insurance and MOD impact like no one else has. We cannot thank Chris Enough for everything he has brought to our business.”
Mary Arcila- Servpro Yorba Linda/Brea
“Experts!”
“Great all-around Insurance agent!!! Very efficient and good with communication. Takes time to listen to the client and make sure they not only have the best price, but that they have the proper coverage for when you need the insurance. My family and I know we are safe and protected with Chris”
Chris Stearns