An amended Arizona law that went into effect in August requires companies to notify consumers affected by a data breach within 45 days of the breach or face up to $500,000 in penalties. Your standard commercial insurance policy is written to ensure against injury or physical loss and will do little, if anything, to protect you from a data breach. So how can cyber insurance protect businesses?
Az Business talked with Jennifer Chenault, sales executive for Lovitt & Touché, to get some answers.
Az Business: Does a standard commercial policy protect a business against data breaches?
Jennifer Chenault is a sales executive for Lovitt & Touché.
Jennifer Chenault: Your standard commercial policy is written to ensure against injury or physical loss and will do little, if anything at all, to protect you from a data breach.
Commercial general liability (CGL) is a type of insurance policy that provides coverage to a business for bodily injury, personal injury and property damage caused by the business’ operations, products, services or injury that occurs on the business’ premises. CGL is considered comprehensive business insurance, though it does not cover all risks a…
