Last year marked the second-highest record for business data breaches: 781.
In order to properly protect you, your business, and your employee and client data, you need to understand the different type of Cyber Liability coverage available.
First-party cyber coverage: protection for the data you own, such as information that pertains to your customers or employees
Third-party cyber coverage: provides protection for liability associated with your customers’ data, among other things
Privacy breach: an incident that results from failure to protect private, personally identifiable information
Security breach: an incident that bypasses security systems to result in unauthorized access or release of sensitive or confidential data
Electronic media breach: infringement of a service mark or trademark
Read about the differences in more detail here.