What Is Cyber Liability Insurance?
FLIP’s cyber liability insurance provides first- and third-party coverage for food service businesses. If you fall victim to cybercrime, you could receive up to $100,000 coverage to restore or replace your lost data, pay ransomware demands, or cover legal costs resulting from a cyber security breach.
Why Do I Need Cyber Liability Insurance?
Cybercrime is an unfortunate threat your business cannot afford to ignore. As a food service business, you collect and store valuable daily information—tax records, bank statements, even customer credit card information—that cybercriminals would love to get their hands on.
Without cyber liability insurance, if the data you store were ever lost or stolen because of cybercrime, it could cost your business thousands of dollars to restore or replace the data. Not only that, if your customer information were ever compromised, your business could face third-party claims that could financially cripple your business.
With FLIP’s cyber liability insurance, you can create a financial safety net that can cover costs should your business ever fall victim to cybercrime.
How Can I Add Cyber Liability Insurance?
Protect your business with cyber liability insurance in 4 easy steps:
- Sign in to your user dashboard.
- On the User Dashboard page, scroll down to the “Manage Policies” section and click on the “Change Policy Options” button.
- Scroll down to the section titled “Cyber Coverage Options” and click on the “$100,000 cyber coverage” option.
- Scroll to the bottom of the page and select “Purchase policy.”
Cyber Liability Coverage Limits
Aggregate Claims-Made Liability Coverages Limit of Insurance
Privacy and Network Security
Regulatory Fines and Penalties
Frequently Asked Questions
FLIP’s cyber liability insurance can cover both first- and third-party costs that your business incurs as a result of falling victim to cybercrime. First-party coverage can pay for expenses that directly result from the cyber security breach, such as the cost of restoring or replacing your data.
Third-party coverage can pay for expenses that arise as a result of insurance claims against your company, like the cost of legal assistance should a disgruntled customer sue you as a result of his information being stolen.
If your business collects or stores data electronically—be it tax records, sales projections, or any kind of customer information—then you are at risk from cybercrime.
Cyber liability insurance can protect you from covering hefty costs out of pocket should your business information be lost, stolen, or otherwise compromised as a result of cybercrime.