Cyber Liability

Data breach is defined as the loss, theft, accidental release or accidental publication of Personally Identifiable Information (PII) including:

  • Social Security number
  • Bank account number
  • Credit or debit card numbers
  • Driver’s license number
  • Patient history and medications

Any business that collects or stores sensitive personal information, electronically or in paper files, is at risk for a data breach. According to the 2013 Verizon Data Breach Investigations Report (DBIR), 31% of all data breaches investigated in 2012 occurred in organizations with fewer than 100 employees.

In this day and age everyone is exposed to the internet and all its inherent dangers. Cyber Liability Coverage protects businesses and individual users from internet based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial liability policies.

Coverage may include first-party coverage against losses such as data destruction, extortion, theft, hacking, and denial of services attacks; liability coverage indemnifying companies for losses to others caused; for example by errors and omissions, failure to safeguard data, or defamation; and other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds.

It’s time to start thinking about protecting yourself from these unseen cyber threats before they become an issue. We can help you decide the level an type of protection that works best for you and/or your business.