Insurance Policy Data Definition
Data breach insurance is a type of monetary coverage purchased by organizations to protect financial interests in the event of data loss.
Insurance policy data definition. Many small businesses may only need data breach insurance. To learn how you can protect your business with data breach insurance get a cyber liability insurance quote or call 855 829 1683 today. 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. 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.
Through attune the companies are seeking to transform the small commercial segment by harnessing data artificial intelligence capabilities and advanced modeling. Literature geography and other reference data is for informational purposes only. 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. You can protect your business from losses caused by damage to computers and data by purchasing electronic data processing coverage.
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. The types of data stored by organizations can vary from simple non. Small and midsize commercial insurance market. Definition of data breach insurance.
Data breaches occur for a number of reasons including hacking and poor cybersecurity procedures. You can get data breach coverage by adding it to your business owner s policy or general liability insurance policy. The policy affords only a small amount of coverage for damage to electronic data.
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