Cyber
Products
specialized for
your business.
Our Approach
Managing new and emerging risks.
Advances in information technology over the past two decades have radically transformed the way we conduct business.
This transformation has also lead to unintended consequences. Most notably, new risks associated with network and information security. If not properly managed, these new and emerging risks can lead to catastrophe.
Data security events are not only expensive to manage (according to Experian, the average costs for a breached company total $9.4 million over a 24-month period), they also significantly impact brand equity and morale.
Why Cyber
Losses can arise from a number of sources.
Losses can arise from malicious insiders, negligent insiders, hacktivists, criminal hackers and cloud or third-party compromise.
Your Property & Casualty insurance most likely does not cover cyber issues.
Traditional Property & Casualty insurance was not designed to address cyber perils and now commonly contains cyber exclusions. Standard insurance policies were designed for tangible risks and do not address perils such as hacking and denial of service attacks.
Coverages
Cyber & Privacy Coverage
It’s not a matter of if a cyber breach will happen to your company, it’s a matter of when.
Data Breach Expenses
Costs associated with the actual or suspected breach of confidential information. Customary expenses include legal counsel, forensic examination, public relations, notification to impacted parties, call center and credit/identity monitoring.
Security & Privacy Liability
Defense costs and legal liability due to lawsuits or contractual obligations due to a failure of security or safeguarding confidential information.
Network Business Interruption
Loss of income due to downtime or degradation resulting from a failure of network security. Coverage extends to internal and external costs (extra expense) to get operations back in order.
Cyber Extortion
Covers expenses to respond to a threat to harm or release your data as well as cover ransom payments, if necessary.
Regulatory Expense
Defense costs related to privacy regulatory actions, including coverage for assessed fines and penalties (where insurable).
Cyber Solicitation
Over the past couple of years, cyber-crime has become more prevalent on a global scale. There are many tactics businesses can take to prevent ransomware.
Assessing Potential For a Ransomware Incident
- Does the network require two-factor authentication for all remote access?
- Is there a secure data backup solution in the event of a ransomware attack?
- Are the right email spam filters in place?
- Is there a behavior-based antivirus software to help recognize malware?
What is Business Email Compromise?
Business email compromise (BEC) or “phishing” is a cyber-crime used to gain access to company email.
This allows criminals to steal sensitive data and money by impersonating a coworker, manager or other trusted business partner through fraudulent wire transfer requests, fake invoices, or diverting payrolls.
Find out more.
Our Cyber Solicitation whitepaper dives further into:
- Scenarios for Phishing Scams
- Protection for businesses and employees
- Email Spoofing and how to best avoid
- BEC attack prevention
- And more ways to help thwart sneaky cyber solicitations