Cyber Security Liability

Did you know that the average cost for a breach of your customers’ personal information is estimated at over $200 per record, taking into account the damage to your reputation, notification and monitoring costs and the value of lost customers?

Did you also know that most states in the U.S. have specific privacy protection laws? Massachusetts, for example, has recently enacted some of the most stringent privacy laws. You may have a duty to notify your customers of a data breach, offer credit monitoring and can be assessed fines, penalties and credit repair costs.

Consider also how the introduction of malicious code, a hacker attack, or the introduction of a virus or breach could compromise the security of your network and trigger a multitude of exposures - release of customer information,

a media publishing liability suit – or a complete shutdown of your system resulting in extensive data reconstruction and business interruption expense.

In addition to having effective, up-to-date data protection tools in place, insurance can be purchased to cover such things as:

• Loss of Digital Assets
• Non-Physical Business Interruption and Extra Expense
• Cyber Extortion
• Cyber Terrorism
• Security Event Costs (Customer Notification and Public Relations)
• Network Security and Privacy Liability
• Employee Privacy Liability
• Electronic Media Liability

For more information about Cyber Liability and the various ways we can help protect your business please contact us today. Either by phone: 888-697-6542 or e-mail our commercial lines department.

To obtain a premium indication Cyber Liability for your company submit our simple one page on-line request form here: Cyber Security Quick Quote Form