Commercial Insurance

Cyber Liability

Every day, small to mid-sized organizations become victims of cyber-attacks that expose the private information of millions of users.

Does your organization:

  • Store personal client data? Employee and payroll data?
  • Have company files that would be difficult or impossible to replace?
  • Keep customers’ credit card information on file?
  • Transact business online?
  • Rely on your computer systems to function?

If so, then you need Cyber Liability coverage.

Does your organization do none of those things? You still need the coverage!

Cyber policies not only protect your business in a lawsuit, they also pay the additional expenses you incur as a result of a cyber attack and assist in restoring your data. You’ll also receive services and advice to prevent a cyber breach.

Additional coverages available include Electronic Media Liability coverage, Intellectual Property Infringment, Privacy Liability & Network Risk coverage, and protection for negligent transmission of a computer virus, work or logic bomb, Trojan Horse, or other crimes committed through your computer systems.

Here’s a true story from a local financial planning firm:

“Recently our server was compromised in an attempt to steal the private information of our clients. FINRA required that we notify any individual, both client and prospect, who’s information was in the system and make them aware of the attack. The cost to contact everyone in our database was thousands of dollars, and that does not include the cost for our IT company to deal with the breach, or our downtime spent trying to deal with the breach. Luckily no one was harmed, but we immediately purchased coverage to protect the company in case this ever happened again.”

Unfortunately, many businesses seek coverage after an attack. Be proactive and talk to us today about Cyber Liability Insurance.

Quick Fact: 43% of businesses that experience a catastrophic computer data loss never reopen. 51% close within two years.