If you’re a business owner or someone who is highly involved in management, you bear the responsibility of insuring your company against various liabilities. Today, business owners are purchasing both general liability and cyber liability insurance in PA. To understand why both insurance policies are necessary, its important to break down what each type of insurance will cover.
Many general liability policies will specify that they cover tangible damages. This kind of coverage pays for costs from damages that are material and easily visible. Examples include when an employee working for you accidentally damages someones property, or someone suffers bodily harm on the property of your company.
What is not tangible are facts and information. Although stored within computers, they cannot be touched or moved by the human hand. This also includes computer programs or software. Cyber liability coverage was developed to cover this insurance gap. Today, cyber liability insurance in PA will cover damages resulting from data destruction, theft of personal data such as credit card or Social Security accounts, or accidental transmission of computer viruses to another party.
Cover Both Tangible and Intangible Damages
When discussing a policy with an insurer, be sure to ask about cyber liability insurance in PA in addition to general liability policies. With the growing risk from hackers and identity thieves, make sure all your bases are covered so no unexpected insurance gaps expose your business to possible ruin.