Cyber liability insurance for media and advertising professionals

A data breach can be devastating for your company. That's why businesses that store credit card numbers or other sensitive information needs cyber liability insurance. Cyber insurance can cover legal fees and provide essential support and resources.

This policy provides coverage related to:

• Data breaches
• Cyberattacks
• Ransomware
• Phishing
• Other cyber incidents that disrupt business

There are two kinds of cyber liability insurance: first-party and third-party.

First-party cyber liability insurance covers data breaches at the policyholder’s business. It can cover expenses related to:

• Notifying clients or customers about the breach
• Credit monitoring services for affected clients
• Cyber extortion demands

This coverage is key for a media or advertising company that stores client information, such as credit card numbers.

Third-party cyber liability insurance can protect businesses responsible for safeguarding data at another company. If a client suffers a breach and files a lawsuit, this policy can help pay for:

• Attorney’s fees
• Court costs
• Settlements or judgments

This coverage is beneficial for businesses like IT companies. It's likely not necessary for media or advertising businesses, unless you make software recommendations to other companies.

While cyber liability insurance covers data-related risks, it does not provide complete protection. Media and advertising professionals should also consider:

General liability insurance: This policy covers expenses related to third-party bodily injuries or property damage, including medical bills and legal costs.

Media liability insurance: Also known as professional liability insurance, this policy protects media and advertising professionals against lawsuits related to advertising injuries or work performance.

Workers’ compensation insurance: This policy is required in most states for businesses with employees. It covers medical expenses and partial lost wages if an employee is injured on the job.

Are you ready to safeguard your media and advertising business with cyber liability insurance? Complete Insureon’s easy online application to compare quotes from top U.S. insurers. Once you find a policy that fits your needs, you can begin coverage in less than 24 hours.