Cyber Liability Insurance.
Did you know that 60% of small businesses that suffer a cyber attack close within 6 months? Cyber Liability Insurance protects your company from financial losses due to data breaches from hackers, malware, user error, cyber extortion and more.
Lost USB drive
Theft or loss of Data
Social Media Scandal
Corruption of Data
If you do business online, if you handle customer data, if you handle medical data, if you handle credit cards and orders, if you want to succeed in the digital age — you need Cyber Liability Insurance. Not just in case, but you need it because it is essential to the success of your business. Have you ever lost a USB drive? Have you ever forgot to sign out of your email on a public computer? Have you ever used an easy to guess password? Cyber threats will only increase as technology advances because cyber criminals have much to gain and you have much to lose.
Industries at high risk.
- Banking and Finance
- Professional Services
- Food and Hospitality
- Media Communications
- Trucking Logistics
When your laptop is stolen…
When your receptionist opens a virus infected email…
When a sales person sends a litigious complaint with “reply-all”…
When an disgruntled employee deletes 1000 gigabytes of business data…
Cyber Liability Insurance is made for these moments.
When your interns accidentally post graphic content on your social media…
When a maintenance person steals confidential information in the trash…
When an employee loses a USB drive with customer information…
When a CEO suffers from identity fraud…
Don’t make the mistake of thinking a cyber attack will not happen to your small business. One-third of all cyber attacks are carried out on businesses with less than 250 employees.”
Covers financial losses related to the loss or theft of customer information and business data.
Covers the costs of your website or network being shutdown for an extended period of time.
Extortion Liability Coverage.
Protects against losses due to a threat of extortion, such as a website hijacking.
Data Breach Crisis Management.
Covers expenses related to the management of a cyber crime incident.
Media Liability Coverage.
Protects against libel or false-claims made through media such as Twitter, blogs, and Facebook.
Technology errors and omissions liability.
This coverage protects you from a financial losses related to errors, omissions, or negligent acts.
The cost of not being covered is devastating.
The average cost per record from a data breach is $194. If you have 3000 clients, you could be facing up to $500,000 in expenses.
5Reasons to Consider Cyber Liability.
You are covered from the beginning.
You are covered from the day you began your business rather than the date the policy started. Most breaches are unknown for years before insurance is in place and they are discovered.
First Party Expenses are fully covered.
These expenses include notifying customers of the security breach, indemnification costs, reputation damage control, hardware damage, business interruption expenses, fines and penalties, and legal costs.
Third Party Damage is fully covered.
Even if your data breach affects your clients or even your client’s customers, all Third Party Damage expenses are covered.
No encryption exclusion.
Our policies cover a breach even if it occurred on an unencrypted device, which is important because most devices are not unencrypted.
Regulatory Fines and Penalties are covered.
Our program covers regulation fines and penalties from the Government, which can total in the millions for businesses with a lot of customer information.