Businesses may use, store, send, or receive electronic data. This data may include information that belongs to your business, like sales forecasts, expenses and revenues generated. It may also include sensitive and personal data that belongs to other people, such as customers, employees, and suppliers.
If electronic data stored on your company's computer system is lost, stolen, or compromised, the cost of restoring it will be significant. Moreover, your company may be liable for damages to third parties whose data has been stolen. You can protect your business against the costs associated with data breaches with a cyber liability policy.