CYBER LIABILITY COVERAGE IS AFFORDABLE, THE THREAT IS REAL.

WHAT IS A PERSONAL GROUP UMBRELLA & WHY DO I NEED IT?
Cyber crime has been steadily growing in recent years with data breaches becoming a regular occurrence and impacting businesses of all sizes and industry types. If you maintain personal information of employees, customers, patients, students, vendors, volunteers or others — whether in the cloud or on a network you are at risk. Here are some basic operational computing tasks that put businesses, schools, hospitals, non-profits and municipalities at risk of a cyber breach:

• Use email?
• Rely on networks, computers and electronic data to conduct business?
• Browse the internet or have your own website?
• Handle valuable or personal information on yours or another’s network?
• Participate in e-Commerce or take online orders?
• Use your network to control production, manufacturing, inventory or a supply chain?
• Interact or collaborate with others (clients, suppliers, partners, or the public) via the internet?
• Advertise or promote your business online, or publish digital content?

If you answered yes to any of these questions, you face a potential cyber risk.

EVENTS THAT CAN TRIGGER NEED FOR COVERAGE

• Lost/stolen portable computers, media, back-up
• Computer hacking
• Employee misuse/mistake
• Computer/application glitch
• Vendor negligence
• Improper disposal of paper records or computer equipment

INFORMATION COMPROMISED BY DATA BREACHES

• Credit card information
• Personal financial information
• Personal health information
• Business information of others
• Confidential customer data

TYPICAL ALLEGATIONS ARISING FROM BREACHES

• Failure to protect customer information/privacy
• Failure to notify or timely notification
• Cost to cancel or reissue payment cards/open new accounts
• Costs of fraudulent purchase
• Credit Monitoring
• Regulatory Actions – penalties & fines

WHAT THE COVERAGE PROVIDES
Policies can be tailored to include:

• Third-party coverage in response to unauthorized access, theft of or destruction of data, denial of service attacks and virus transmission
• Theft of personally identifiable non-public information
• Liability arising from failure to comply with State breach notice laws
• Privacy breach notification costs and credit monitoring services
• Defense costs for regulatory proceedings and penalties resulting from privacy incidents when allowable by law
• First party coverage including coverage for destruction and loss of data, as well as network business interruption and cyber extortion