Legal Definitions from Termly’s Legal Experts

Cyber Liability Insurance

Cyber liability insurance definition (noun)
1.

Cyber liability insurance is a type of insurance that covers financial losses due to data breaches and other cyberattacks. In the event of a cyber attack, cyber liability insurance may cover:

  • Notification costs to alert affected parties that their personal data was compromised
  • Privacy lawsuits from customers or employees
  • Extortion costs to recover data from hackers
  • Fines from regulatory bodies

Appears in: Privacy Policies

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Jona, Senior Product Manager @ Termly

Termly allows our users to focus more on their business instead of spending countless hours figuring out data privacy compliance. - Jona, Senior Product Manager @ Termly