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Cyber liability insurance for businesses

Data breaches are complicated and costly. In 2019, our annual survey of business owners found that:

  • 86 Percent of business owners believe that digital risk will continue to grow
  • 35 Percent of business owners who have never experienced a cyber-attack are unaware of the financial cost to recover, highlighting a dangerous gap in knowledge from the implications.
  • 30 Percent of companies with 11-50 employees do not provide any type of formal training on cybersecurity.

With cyber attacks becoming more frequent, there’s a growing chance that a business like yours will suffer a data breach or computer attack. That’s why you need protection to help offset the devastating effects it can have on your business from a financial and reputation standpoint.

Cyber risk solutions

Along with cyber insurance coverage, you have access to experts to guide you through compliance with state breach notification laws to avoid fines and penalties.

Expenses that are typically covered include costs associated with:
  • Notifying customers about a data breach
  • Providing credit monitoring services as required by some states
  • Setting up a call center for affected individuals to obtain additional information and sign up for credit monitoring
  • Protecting your electronic data and computer systems from damage and computer attacks
  • Assisting with any associated legal expenses

Cyber liability coverages and services

Loss control & risk management

When you insure your business with Nationwide, you get access to our risk management resources, including eRiskHub. With eRiskHub, you’ll get a better understanding of your data information exposures so you can be prepared for a cyberattack or data breach.

Key features of eRiskHub include:
  • An incident response plan roadmap, which provides suggested steps to take following a cyberattack or data breach
  • Online training modules on privacy best practices and red flag rules
  • Risk management tools, including self-assessments and state breach notification laws
  • An eRisk resources directory
  • A news center with cyber risk stories, security and compliance blogs, security news, risk management events and helpful industry links
  • A learning center with best practices and white papers written by leading authorities

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Product, coverage, discounts, insurance terms, definitions, and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Nationwide-affiliated underwriting companies, which are controlling. Such products, coverages, terms, and discounts may vary by state and exclusions may apply.