March 28, 2023

Cyber Insurance for AI content Used for Business

Imagine losing 60% of your website traffic overnight—- that’s what a cyber attack can do to your business. Cyber insurance is a crucial risk management strategy that covers damages related to loss of information following an attack on IT systems and networks. As the world continues to embrace digitization, the risks in the IT environment are steadily rising. The digitized approach to marketing has made content an integral part of modern marketing. As such, a cyber attack can target your AI content for various reasons, including copying your strategy or deleting published pieces. Unfortunately, an attack on your AI content can have a disastrous effect. When your content is compromised or stolen, it translates to lost traffic and revenue, inability to generate leads, and derailed marketing. If you’re looking to secure your AI content from the highly potent cyber threat, consider acquiring cyber liability insurance.

What Does Cyber Insurance Cover?

Cyber Extortion

Cyber extortion occurs during a malicious attack when someone takes and withholds control of your AI content until a fee is paid. The coverage can apply to the ransom fee that attackers are demanding. It also pays consultation fees to negotiate with attackers and safely release the funds. Whenever faced with a ransom demand, it’s advisable to report the matter to the police or speak to your insurer.

Content Loss, Restoration & Recreation

Cyber insurance covers the cost involved in restoring lost AI content. It can also cater to the cost involved in creating fresh content. Cyber liability insurance will also pay an IT expert to restore the lost AI content.

Business Interruption

Business interruption coverage is also vital coverage that can help avoid closure and maintain business continuity. If a cyber attack on your AI content interrupts your business, it covers the loss of income during the period of interruption. It also caters to increased business costs following the attack.

Security Costs

An attack on your AI content will likely involve crucial data in the organization. As a business, you must respond to deter future attacks and address privacy concerns. Cyber insurance will cater to the cost of notifying your customers of the breach, hiring IT forensics, legal fees, and expenses of setting up a call center to handle customer queries.

Post-attack Support

Most insurers include post-attack support as a standard coverage feature. You’ll get 24/7 support from IT forensics or experts as you try to resume normal business operations. These experts will assess your content management system and other systems, identify flaws, and recommend preventing future attacks.

Speak to an Experienced Cyber Liability Insurance Agent

Digital assets like AI content hold immense value to the organization. If unprepared for a cyber attack, you’ll lose revenue and give your rival a competitive advantage. Therefore, stay prepared by acquiring cyber liability insurance from an experienced insurance agent. At Panorama Insurance Agency, we work with multiple insurers to offer clients a tailored solution that provides value for money. Contact us online or call us at 818.781.6630 to request a free quote.

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