How to Protect Your Business With a Commercial General Liability Insurance Policy

To ensure your business is protected from the ever-growing threat of cyber incidents, it is critical to combine strong cybersecurity measures with a comprehensive commercial general liability insurance policy that includes cyberthreat coverage.

Implementing strong cybersecurity measures is the first line of defense. This involves:

• Installing robust antivirus and anti-malware software on all devices within the organization to prevent unauthorized access and damage from malicious software
• Implementing multi-factor authentication, adding an extra layer of security and ensuring that only authorized individuals can access sensitive data
• Establishing complex password policies, which further secures accounts from brute-force attacks
• Routine scans of your systems that identify and resolve vulnerabilities before they can be exploited
• Performing a robust, tested data backup process ensures that you can recover quickly in the event of data loss

However, even with the best preventive measures in place, no system is infallible. This is where a CGL policy with specific cyberthreat coverage comes into play. A comprehensive policy offers financial protection against costs associated with data breaches, privacy violations, cyber extortion, and the impact of other cyber-related incidents. When selecting a CGL policy, it is crucial to find one that explicitly includes coverage for these cyber liabilities.

Furthermore, partnering with an experienced insurance professional is invaluable. They can guide you in selecting the appropriate policy limits to ensure that your coverage is adequate for the size and nature of your business. They can also help you understand any policy exclusions or limitations. This knowledge allows you to maximize your protection and minimize potential gaps in coverage that could leave your business vulnerable.