Most businesses today are trying to convert to a ‘paperless’ workplace and in turn, rely heavily on electronic data, computers and networks to support important operations and to better serve their customers.
If any of the following pertains to your client’s data storage practices you should consider discussing Cyber Liability Coverage …
- Do your client’s store customer and/or employee personal information on computers that are exposed to network security breaches?
- Cyber Liability Claims can be for identity theft or any information or data that is stored on your client’s network, this does not solely pertain to Website Data. Liability can also result from infecting other systems that you access online.
- New laws were passed requiring businesses to notify any person who may be affected by a security breach to their system. How will your client’s notify customers or employees of such a breach?
- Networks and businesses these days are considered ‘borderless’. With this being said, claims against your clients can happen anywhere in the world if their network is not properly protected.
- Keep in mind, allegations must be defended whether actual or not, this is another reason why your clients should consider cyber liability coverage.
Although becoming a paperless workplace is great for the environment and may help companies become more efficient, there are big risks that cyber liability can help protect against.
To learn more about the Cyber Liability Coverage as well as the different coverages for Property Managers, Condominiums, Homeowner Associations, and Cooperatives that New Empire Group offers, visit our website: www.NewEmpireGroup.com.
