A lot of companies are under the impression that their Commercial General Liability (CGL) insurance will cover cyber exposures.

Now where there is limited coverage under the CGL with the right endorsements, the coverage is inadequate. The coverage is not board enough to try handle cyber exposures. It is best to view cyber liability as a type of catastrophic coverage if something where to happen that the company would have a hard time recovering from.

If a cyber claim is paid under a CGL it is only partial coverage. Cyber Liability can range from covering consumers of technology services or products and even data breaches where companies lose their clients Social Security or Credit Card numbers. There are now coverages for exposures with business interruption, data loss/destruction, computer fraud, funds transfer loss and even cyber extortion. The last thing a company wants to be caught out in the rain with no umbrella. Since COVID-19 every company has had to go digital quickly and in a more advanced way than they ever had to in the past.

With Cyber Liability covering a vast number of potential data exposures which is not covered by the CGL it is abundantly apparent that any company which holds private data of any sort needs to be protected from increasing number of cyber criminals which are out there.

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