Investing
4 months ago
Cyber liability insurance for small business — do I really need this?
21
I run a small accounting firm with 5 employees. We store client Social Security numbers, tax returns, and bank account info. A colleague got hacked and faced $70k in costs for forensic investigation, notification, credit monitoring for clients, and legal fees. My general liability insurance doesn't cover this. What does cyber insurance typically cost for a small firm? What exactly does it cover — just response costs, or also regulatory fines and lawsuits?
DR
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