Every business needs cybersecurity insurance, but what type of insurance should your company invest in? If you store basic confidential information like addresses, phone numbers, and credit cards, then first-party coverage may be the right choice.
The more sensitive the data is, the more damage it can do to a customer. For businesses that hold more significant personal information, like social security numbers, cyber liability insurance may be the better option. Since liability policies cover legal fees and judgments, this plan is better suited to protect you from legal troubles.