Insurance coverage for Technology & SaaS

• Do I need cyber insurance?

  No law requires it, but three facts decide the question: every U.S. state obligates you to notify individuals after a breach of their personal information, standard property and liability policies don't cover cyber events, and client contracts increasingly require the coverage. If you hold personal data, move money electronically, or sign those contracts — yes.

• What does cyber insurance cover?

  Two distinct halves. First-party coverage pays your own incident costs: forensics, breach notification, credit monitoring, data restoration, lost income, extortion payments. Third-party coverage defends you when customers sue or regulators act after a breach. The details that decide real payouts are sublimits, social-engineering carve-outs, and whether your application answers — especially about MFA — were accurate.

Liability questions for Technology & SaaS

General liability, E&O, D&O, and employment practices questions live on our sister publication: Technology & SaaS on pleasedontsue.us.