What is Cyber Liability Insurance?

Cyber liability insurance covers the costs arising from data breaches, ransomware attacks and other cyber incidents. A typical policy covers ICO notification costs, forensic investigation, customer notification, legal costs, regulatory fines (where insurable), business interruption losses and extortion payments. As cyber threats have grown, many B2B clients now require suppliers to hold minimum cyber cover as part of their supplier-vetting process. First-party cover addresses the business's own losses; third-party cover addresses liability to customers or partners whose data was compromised. Premiums depend on turnover, sector, volume of personal data held and existing security controls.