In this modern-day of technology, most organizations and companies are working with some sort of network and/or databases of information. For that reason, most organizations and companies are vulnerable to hackers. Cyber hackers can be difficult, if not impossible, to prevent. This is why cyber liability insurance has become so necessary.

All business sizes from small companies to large organizations are at risk. Any company, no matter the size, is impacted if data is stolen. When a network is breached, costs can stem from liability and defense costs as well as the cost of any cleanup needed.

 Common risks:

• Sending an email that crashes someone else’s server
• Unintentional spread of a computer virus
• Leak or misuse of confidential information
• Accusations of slander as a result of emails, web content, blog or forum postings

It’s important for companies to know that they have the coverage needed to insure them in the event of a cyber-attack.

Coverages to Look For:

• Disclosure Injury, including lawsuits alleging unauthorized access to or dissemination of the plaintiff’s private information.
• Privacy Notification Expenses, including the cost of credit-monitoring services for affected customers, even when state law doesn’t require notification.
• Content Injury, including suits arising from intellectual property infringement, trademark infringement, and copyright infringement.
• E-Business Interruption, including first-dollar extra expense.
• Crisis management & reward expenses, including the cost of public relations consultants.

For a downloadable .pdf version of this valuable information, visit our Documents Downloads page.

Check out the other great Insurance Programs for Condominium Insurance, Cooperative Insurance, Apartment Insurance and Property Manager’s Insurance that New Empire Group, Ltd. also offers!

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