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Cyber Insurance Tax Break

In an effort to encourage businesses to mitigate the risk of a data breach, House Republican Ed Perlmutter has introduced a bill offering a tax credit to businesses that purchase qualifying cyber insurance policies. The tax credit is equal to 15% of the policy’s premium, making cyber insurance coverage more affordable for businesses that are on the fence about purchasing a policy and making higher limits more accessible for businesses that require additional coverage.

SDV will continue to monitor the progress of this bill and its potential impact on the cyber insurance market.

 

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Sep 22, 2016

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