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Cyber Insurance

Let's work together to build a cyber insurance plan.

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Hackers don't discriminate

A staggering number of small and medium-sized organizations suffer cyber attacks each year, and find themselves trying to manage without the support of cyber insurance coverage. And if your systems or data are compromised, it can put you out of business. At the very least, you could suffer a significant financial loss and take a severe hit to your reputation.

When a cyber attack occurs, recovering your data is just one piece of the pie. Having cyber insurance coverage is another.

Cyber insurance covers the first party and post-breach costs associated with the liability of a cyber breach. This includes business losses, a forensic investigation, regulatory fines, ransom payments and notification of individuals whose social security numbers, credit card numbers and health records may have been compromised.

Cyber insurance will help restore employee and customer identities, recover compromised data and repair damaged computers and networks, whether your business is the victim of a data breach, password attack, ransomware or phishing attack.

Find out what's covered in a cyber insurance policy.  

More detail

Who needs cyber insurance?

Every business that stores data on a network is at risk for a cyber-attack. If you don’t have cyber insurance, think twice. Data privacy attacks now happen every 40 seconds in the U.S.

Without cyber insurance, you could be on the hook for state and federal fines and penalties, a forensic investigation, breach notification costs and even a class action or third-party lawsuit down the road – all directly off your balance sheet. 

Cyber insurance covers the following first party and post-breach expenses:

  • Privacy attorney
  • IT forensic investigation
  • Compliance with state notification laws
  • Credit monitoring for breached individuals
  • PR firm to manage the crisis
  • Regulatory fines
  • Class action lawsuits resulting from the breach

There is no industry-standard when it comes to cyber insurance, so having an experienced broker will be key to making sure you’re adequately insured. 

 

CALCULATE THE COST OF A CYBER DATA BREACH

60% of businesses don’t recover after a cyber attack because they weren’t prepared. Understanding the financial impact to your organization is critical to your recovery and having comprehensive cyber insurance coverage.

Get a personalized data breach cost report for your organization.

Don't Fall Victim to These 5 Cyber Myths

You wouldn't leave your office building unlocked overnight, so why take your organization's cyber security any less seriously? It's what stands between hackers and your sensitive data. Even so, some myths about the risks of falling prey to cyber thieves remain. 
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  • Prepare an Incident Report

    You need to capture all available information about the attack as quickly as possible. This report, which might be needed for investigative and insurance purposes and obligations to third parties, should describe what happened and when, and actions that were taken. 

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    Identify the Affected Business Processes
  • Identify the Affected Business Processes

    Failure to quickly identify the scope of an incident can lead to higher response costs. You also need to determine whether data is still accessible and how it might be used for malicious purposes. 

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    Establish an Incident Response Team
  • Establish an Incident Response Team

    Make sure your organization has a cyber "A-Team" on call. It should be prepared to handle the immediate response to a breach, along with coordinating communications, assisting external investigations and reviewing insurance coverages. 

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