Whether you have just started up a cyber consulting business or you have a large and successful consulting company, your life could be turned upside-down in an instant if one of your customers accuses you of professional negligence or errors. Even the most highly-trained professionals can easily misstep if they are lacking sleep or have too many projects going on, but cyber liability insurance for consultants can offer a financial buffer in these types of situations.
How It Works
Many people think that cyber liability insurance is the same thing as general liability insurance, but that is not actually the case. Cyber liability insurance is also commonly referred to as professional liability insurance, and it covers situations that can fall under the negligence category. Common negligence claims that could potentially be brought against you include improper handling of data or loss of data, breach of nondisclosure agreements, employee theft, violation of right to privacy and missed deadlines.
Nowadays, it seems like people are more likely to bring a lawsuit against you than to try and solve problems with you on a personal basis. Cyber liability insurance for consultants will help cover your legal costs (except for criminal prosecution or civil law legal liability). This means that you may be able to save your company from potential bankruptcy with a professional liability insurance policy. Talk to your insurance agent and make sure your company is adequately protected today.