Cyber Liability Insurance 101 

The global pandemic of COVID-19 that emerged in the United States in the year of 2020 ushered in an entirely new era of remote education and work. Since that time, it has been established that cyber risks are increasingly prevalent.

It does not matter what industry you are in, what products and/or services that you specialize in, or how you conduct your day-to-day operations, if you utilize the internet – in ANY way – you face cyber risks on a daily basis. 

It could be phishing emails, a ransomware event, or embedded malware. Even a seemingly minute cyber attack can result in massive damage and financial strain. Each day, companies, organizations, businesses, and institutions find themselves face-to-face with an immediate cyber threat.

Why face the risk alone when you can now purchase cyber liability insurance? Not only does this protect you from immediate threats, it reduces the damage that those threats leave behind. Continue reading to learn more. 

What Does Cyber Liability Insurance Cover?

The biggest risks you face in today’s world include operational risks, privacy risks, service risks, and security risks. Cyber liability insurance protects your business from these risks by offering network security, network business interruption, privacy liability, media liability, omissions, and errors. 

Is Coverage Personalized?

Yes, when you obtain cyber liability insurance, the coverage provided is personalized based on the unique needs of your business. There are general elements, but the business must be considered as unique to determine the best coverage limits.

Cyber liability insurance is a relatively new type of insurance that provides specific insurance coverage policies based on the needs of the business. You will need to work closely with an agent to find the coverages that are most beneficial to your specific business. 

What Is Not Covered by Cyber Liability Insurance? 

In most instances, the following is not covered by cyber liability insurance policies:

  1. Potential losses from future profits
  2. Value loss to intellectual property associated with your business
  3. The amount of money it takes to improve the overall technological system of a business

Cyber Insurance Experts 

You must locate a team of experts that specialize in cyber liability insurance. This team will evaluate trends that are currently being experienced and work directly with insurance carriers to ensure optimal coverage for your business.

These experts believe in protecting your business before an attack, during an attack, and after an attack. Each client is approached in a personalized manner. They will advocate for you and will ensure that your business is properly protected. 


Insurance is your protection and we here at Modica Associates will work diligently to ensure that you obtain the policies that you need for optimal protection. We specialize in all varieties of business insurance, home insurance, auto insurance, and more. I

f you are in need of coverage in New York, we encourage you to contact us immediately. We strive to develop a partnership with each of our clients and will work to determine the best coverages required for your business. Call us now to learn more: 718-855-1836

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