In today’s technology-driven world, the risks associated with doing business online and storing sensitive customer data electronically have never been greater. Cyber risk is steadily increasing and data breaches now affect hundreds of millions of records a year. Not a week goes by without another company – from large corporate enterprises to small local businesses – reporting a loss as a result of a cyber attack and it’s not always at the hands of a hacker. Losing a company laptop with sensitive customer data, such as Social Security numbers or credit card details, also opens your company up to cyber exposure. You are responsible for protecting this data and can be liable if it is compromised.
Cyber security threats can result in significant out-of-pocket and reputational costs to a company. For example, did you know that many states now require companies to notify all of their customers if a breach is suspected and take necessary steps to correct the situation? In a rapidly changing landscape, Cyber Liability provides innovative protection to help businesses safeguard against sensitive data breaches, computer hacking, dumpster diving, computer viruses, employee sabotage or error, and pilferage of information and identity theft.
The best way to solve a problem is to prevent it in the first place, but sometimes that’s just not possible. In the event that something does make it through a company’s defenses, Cyber Liability coverage will help with dedicated claims specialists and an extensive vendor network. Cyber Liability helps clients stay ahead of the curve and provides responsive guidance based on years of experience.
Contact Keller Stonebraker to learn more about Cyber Liability coverage.