First-party cyber liability insurance protects small businesses against the financial impact of data breaches and cyberattacks.
First-party cyber liability insurance provides financial assistance to mitigate the impact of data breaches and cyberattacks at your small business. It covers the costs of:
First-party coverage is designed to lessen the financial impact on the company that bought the insurance (the insured).
Third-party insurance provides liability protection in case the insured company makes a mistake that results in a client or entity suffering a data breach or cyberattack.
Another way of viewing this distinction:
First-party cyber insurance can cover a variety of insurable events, including:
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