Cyber Liability Insurance covers many different aspects of an electronic data breach. Test your knowledge about what is and is not covered by your Cyber policy.
1. Cyber liability insurance covers physical damage caused by a cyberattack on a business.
True or false?
2. Who needs commercial cyber liability insurance?
A) High-tech companies with public profiles
B) Large companies that process electronic payments
C) Small companies that store customer data
D) Any size business that uses electronic data
3. Commercial cyber liability insurance only covers customer data exposures, not internal company data exposures.
True or false?
4. All business owners policies include cyber liability coverage.
True or false?
5. Which costs are usually included in business cyber liability insurance?
A) Legal fees associated with a lawsuit
B) Free credit monitoring for customers
C) Restoring damaged computer networks
D) All of the above
6. Commercial cyber liability insurance is legally required in all states.
True or false?
7. Employee errors that lead to data breaches are covered by commercial cyber liability insurance.
True or false?
8. Cyber liability insurance covers costs associated with rebuilding your company’s reputation after a cyberattack.
True or false?
9. What are the factors insurance companies use to price cyber liability policies?
A) The type and size of the business
B) Cybersecurity, like multifactor authentication and artificial intelligence tools
C) Whether the business has cyber training for employees
D) All of the above
10. Third-party cyber coverage helps with direct losses to your company. First-party coverage is when someone else brings a claim against you.
True or false?
11. When was the first cyber insurance policy issued?
A) 1980
B) 1997
C) 2005
D) 2010
For complete answers download the original source document from Applied Systems Inc. for the Quiz Answers here.
About the Author:
Garrett Grega joined Rue in 2023 as the Director of Marketing & Communications, bringing over 2 decades of marketing experience from various Fortune 500 companies. As Director of Marketing & Communications, Garrett is responsible for developing the external communications platform consistent with the strategic direction, strategic vision, mission, and values for Rue Insurance.
