What is Cyber Liability? And do I need it?

Cyber Liability offers first party (your loss) and third party (your customer's loss) coverage associated with e-business, the Internet, networks and other electronic assets and information. First-party coverage is available for network extortion, business interruption and extra expense, loss or damage to a network, and e-theft. Third-party liability includes media liability, privacy liability, network security liability, and costs to comply with privacy breach notification laws and defense of privacy regulatory proceedings.