Cyber liability and data breach insurance are separate policies with some of the same features. Data breach insurance may provide enough financial protection for small businesses because it may offer first-party coverage. However, cyber liability insurance may be more appropriate for businesses facing larger cyber-related risks since it may provide both first-party and third-party coverage.
Cyber liability insurance helps companies prepare for and recover from many types of cyber attacks. Adding cyber insurance to a business policy can help provide appropriate protection with broad coverages to help shield companies from the financial impacts of numerous technology-related risks.