Insurance Policy Data Definition
To learn how you can protect your business with data breach insurance get a cyber liability insurance quote or call 855 829 1683 today.
Insurance policy data definition. The policy affords only a small amount of coverage for damage to electronic data. You can get data breach coverage by adding it to your business owner s policy or general liability insurance policy. Through attune the companies are seeking to transform the small commercial segment by harnessing data artificial intelligence capabilities and advanced modeling. In september 2016 aig and hamilton insurance group announced a joint venture with hedge fund two sigma to form attune a data and technology platform to serve the 80 billion u s.
Insurance policy synonyms insurance policy pronunciation insurance policy translation english dictionary definition of insurance policy. In exchange for an initial payment known as the premium the insurer promises to pay for loss caused by perils covered under the policy language. Definition of data breach insurance. Small and midsize commercial insurance market.
In insurance the insurance policy is a contract generally a standard form contract between the insurer and the insured known as the policyholder which determines the claims which the insurer is legally required to pay. Literature geography and other reference data is for informational purposes only. Many small businesses may only need data breach insurance. The contents of an insurance contract the policy describes the specific types of coverage life health etc the restrictions that apply and the applicable deductibles and premiums only the insurer makes legally enforceable promises in an insurance policy.
The types of data stored by organizations can vary from simple non. The insurance company cannot legally compel the insured person to pay his her premiums but the insured person can sue to compel the. Data breaches occur for a number of reasons including hacking and poor cybersecurity procedures.
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