Electronic data liability

{
  "id": "MLC-T-INS-001270",
  "term": "Electronic data liability",
  "field": "Insurance and risk management",
  "definition": "The legal responsibility for damages arising from the loss, corruption, or unauthorized access to electronic data. This liability can stem from cyberattacks, system failures, or human error, leading to financial losses, reputational harm, and regulatory penalties. Insurance policies often provide coverage for these risks, including costs for data recovery, notification, and legal defense.",
  "url": "https://mlchart.com/terminology/insurance/electronic-data-liability/"
}