Cyber insurance protects companies against losses stemming from technology-based risks. These risks can include systems failure, cyber attacks, or data breach, and others.

Cyber insurance policies can cover a wide range of losses. This can include first party coverage against losses such as ransomware, extortion, data destruction, and theft, as well as hacking, denial of service attacks or even business interruption losses caused by systems failure events. This can also include third party coverage that indemnifies businesses for losses to others caused by technology errors and omissions, failure to safeguard data, multimedia wrongful acts such as defamation, as well as regulatory fines and penalties. Coverage can also include the cost of public relations or communications regarding a cyber incident and other expenses incurred for renewing business operations after a cyber incident.

Typically cyber insurance policies do not cover the intangible losses to reputation or brand value, they also do not cover loss of future revenue from the reduced customer trust after a cyber incident. Cyber insurance also does not cover lost value to intellectual property from a cyber incident. Most cyber policies do not cover the physical cost of a cyber incident or any loss relating to physical infrastructure or property damage as it relates to a cyber incident.

Yes! Previous cyber incidents or breaches are taken into account in the underwriting process but they do not disqualify a company from purchasing cyber insurance.

Yes! General liability policies typically do not cover the loss exposures related to first party or third party losses in the event of a cyber incident.

Getting cyber insurance can be as fast as a few minutes of filling out an online application. The underwriting process is 100% digital and a fully bindable quote and policy can be generated instantly online.

A business owner's policy combines general liability and property insurance in a single policy. The general liability portion protects businesses from accidents and lawsuits and the property portion protects businesses’ buildings and property from damage. A business owner's policy can also protect a business from lost income in case of an unexpected shutdown to help the business keep payroll and bills paid.

If your business could be at risk of lawsuits from harm or accidents or if your business owns significant amounts of buildings or equipment, you need a business owners policy. You also need a business owners policy if your business would not be able to withstand income loss in event of an unexpected temporary shutdown.

Almost all businesses need a business owners policy. Particularly businesses with buildings, equipment, inventory, or who have invested in tenant improvements in their workspace.

If your home business has customers visit you then you certainly need a business owners policy as you could be exposed if they have an accident in your home. Also, a business owners policy will protect you against loss from accusations of libel, slander, and copyright infringement. Additionally, if your home business suffers unexpected temporary shutdown, a business owners policy could protect some lost income.

A typical business owners policy does not protect against professional liability claims of financial damages from bad advice or errors and omissions. A professional liability insurance policy is a good supplement to a business owners policy in this case.

Yes! Your business can still be exposed to lawsuits in case of accidents or harm and from liability of accusations of libel, slander, and copyright infringement. The business owners policy can also protect against lost income in the event of an unexpected shutdown.

General liability insurance protects businesses from accidents and lawsuits. These liabilities can be very expensive and without insurance a business could be left paying them out of pocket, putting a serious risk to the continuity of the business. General liability insurance can be sold as a standalone policy or together with property insurance in a business owners policy.

Accidents happen all the time and can be very costly. A customer slipping in a restaurant can cause serious medical expenses that the restaurant could be forced to pay if found liable. Also a plumber’s accident could cause a flood in their customer’s home causing hundreds of thousands of dollars of damage. General liability can protect business owners from these types of liabilities.

Claims of property damage, bodily injury or personal injury on a business premises or while a business’ personnel is operating in a customer’s residence or workplace can be very costly and can be covered by general liability insurance. The higher the coverage limit, the more the business is protected.

Yes! Accidents happen all the time and lawsuits can be very costly, even if you are found to be not liable.

Cost depends on a variety of factors like industry, coverage needs, and business profile. At Mindaro you can get an instant quote to find out!

Even the most unforeseen accidents can have devastating consequences for business owners.

Yes! It is very important to understand that personal insurance does not cover many potential risks in your business operations. A proper business insurance policy to cover any liability in your business is essential.

Yes!

Also known as errors & omissions (E&O), professional liability insurance covers businesses in the event that they fail to uphold terms of a contract. These are most common in service-based businesses. Most professional liability insurance policies cover loss related to negligence, malpractice, errors, misrepresentation, incomplete or inaccurate work, and breach of contract. Professional liability insurance typically pays for your legal fees in the event of a lawsuit as well as damages awarded to the other side.

Yes. General liability and professional liability cover different types of liability. Whereas general liability typically covers loss from accidents, property damage, bodily injury, or personal injury; professional liability covers loss from negligence, malpractice, errors, misrepresentation, incomplete or inaccurate work, and breach of contract.

Typically services based businesses that offer professional advice and that require high levels of licensing, training, and credentials should consider professional liability insurance. Examples include accountants, engineers, licensed beauticians, business consultants, and trainers. Some clients will require professional liability coverage before entering into a contract.

This can vary by industry and geography.

Cowbell policy holders have the ability to cancel coverage at any time. To learn more, contact Cowbell Cyber at https://cowbell.insure/contact-us/