Cyber exposures are an emerging and increasing threat to engineering firms like yours, as with any business engaged in electronic communications and internet-based information and commerce. Fortunately, you can protect your systems and operations by purchasing robust cyber insurance. Buying coverage with the ACEC BIT is easy.
Depending on the coverage selected, cyber liability insurance can cover these types of claims:
- Network breach liability if your system is hacked or compromised (third party liability)
- Privacy liability if an issue with your firm’s system causes the release of confidential information or government-mandated protected data
- Breach response costs, often mandated by law
- Data restoration for files corrupted due to a cyber event
- First-party business interruption if your firm cannot operate during a hacking event
- Cyber extortion if your firm must pay a ransom to unlock systems or files