Hackers don't discriminate
You should never underestimate the potentially crippling effects of a cyber breach or assume that your company is too small, too big or too protected to become a target. If you do, you’re extending an open invitation to cyber criminals.
A staggering number of small and medium-sized organizations suffer cyber attacks each year. 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.
Cyber risk insurance keeps your business from closing its doors by protecting you from the expenses that occur after a data breach.
This includes coverage for:
Network Security Liability — Covers your organization from lawsuits relating to the transmission of a virus from your system to a third party.
Privacy Liability — With privacy liability coverage, you’re protected against claims that result from the disclosure of confidential information collected, handled, or under your control.
Regulatory Defense and Penalties — You’re protected against legal costs associated with regulatory violations of privacy law caused by a security breach, as well as any penalties that might follow.
Electronic Media Content Liability — You’re protected against any personal injury or trademark/copyright claims that arise if the digital content that you created or distributed is found to have infringed on a third parties intellectual property.
Network Extortion — The growing trend of malicious code or “ransomware” is a real threat in today’s environment. But if it happens, you’re covered for payments you make to the hacker to regain control of your data or for those costs to restore from backup and remove the ransomware from the system. This also responds should an individual steal sensitive information and try to extort the company.
Network Business Interruption — You’re covered for loss of income and recovery expenses incurred as a result of an interruption or suspension of access to your computer systems.
Breach Event Expenses — With breach event expenses coverage, you are covered for the costs of retaining a crisis management firm, outside counsel or forensic investigators to meet your compliance obligations.
Data Asset Protection — You’re covered for the costs associated with restoring, recreating or recollecting your data and other intangible assets as a result of a cyber crime.
Breach Response Planning — Avoid a costly business disruption by planning ahead for a major data loss.
Executive Training — Educate executives on their duty of care to implement appropriate cyber security measures and a recovery plan.