Protecting
Your Business
Protecting your business goes beyond simply purchasing insurance policies. Your high-performing risk management program starts with putting the right pieces in place. We help you design a custom program through in-house consulting services including:
- Risk Tolerance
- Loss Analytics
- Risk Financing
- Risk Mitigation
- Claims Advocacy
- Human Resources Consulting
- Leveraging the Marketplace
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Cyber Security
Cyber liability insurance is designed to address the risks that come with using modern technology; risks that other types of business liability coverage simply won’t cover.
As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will only continue to grow. The continued rise in the amount of information stored and transferred electronically has resulted in a remarkable increase in the exposures facing businesses.
In an age when a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, or an ill-advised post on a social media site can be read by hundreds in a matter of minutes, protecting yourself from cyber liability is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.
Data Breaches
Data Breaches
In the event of a breach, notification of the affected parties is now required by law. This will add to costs that will also include security fixes, identity theft protection for the affected, and protection from possible legal action.
Intellectual Property Rights
Intellectual Property Rights
Your company’s online presence, whether it be through a corporate website, blogs or social media, opens you up to some of the same exposures faced by publishers. This can include libel, copyright or trademark infringement, and defamation, among other things.
Damages to a Third-Party System
Damages to a Third-Party System
If an email sent from your server has a virus that crashes the system of a customer, or the software your company distributes fails, resulting in a loss for a third party, you could be held liable for the damages.
System Failure
System Failure
A natural disaster, malicious activity or fire could all cause physical damages that could result in data or code loss. While the physical damages to your system hardware would be covered under your existing business liability policy, data or code loss due to the incident would not be.
Cyber Extortion
Cyber Extortion
Hackers can hijack websites, networks and stored data, denying access to you or your customers. They often demand money to restore your systems to working order.
Business Interruption
Business Interruption
If your primary business operations require the use of computer systems, a disaster that cripples your ability to transmit data could cause you, or a third party that depends on your services, to lose potential revenue. From a server failure to a data breach, such an incident can affect your day-to-day operations.
DON’T LET IT HAPPEN TO YOUR COMPANY
Ninety-six percent of cyber security breaches could have been avoided with simple or intermediate controls. In addition to a comprehensive cyber insurance policy, it is essential to create an organization-wide plan to deal with the threat of cyberattacks. Implementing basic preventive and safety procedures will help protect your company from cyber threats.
Because the current state of cyber risk is so complex, every business needs to be prepared with a two-pronged approach: a strong cyber liability insurance policy and an effective cyber security plan. Let us help you get both in place to protect your company against losses from cyberattacks.