Cyber Liability

Your Business at Risk

Does your business keep confidential information about your clients and employees? You are responsible for safeguarding that information.  Many businesses have a third party monitoring their systems and security, but they are not responsible for protecting the data collected.  Privacy laws in each state make the business owner who collected the personal information liable for a breach of the data.  

Even if you have controls in place, you are still at risk. Large companies with sophisticated security systems are attacked. Small businesses get viruses from social media interaction. An employee can lose a mobile device with passwords, emails and contact information.

$ 150 Per Record*

Average Cyber Security Breach Costs in 2021

Most Companies Cannot Absorb These Costs.

The Financial Risk Can Be Managed with a Cyber Liability Insurance Policy.

* 2021 Ponemon Institute Study 

Cyber Liability Insurance Coverage

Electronic Media Liability

Media insurance is used to protect a variety of businesses including film and program producers, publishers, authors, journalists, broadcasters, and others when sued for defamation or invasion of privacy. Anyone who deals with collecting and publishing information should purchase this insurance.

Network Security Liability

Computer and information security liability covers damages or claims caused by unauthorized access to your software programs, computer hard drive, or network hardware devices.

Privacy Liability

Privacy Liability Insurance pays for damages and claims expenses that your company may be obligated to pay if a privacy breach occurs.  Personally identifiable information for clients and employees must be protected under state privacy laws.

Cyber Extortion

Cyber extortion claims occur after your website, e-mail server, or computer system has been subjected to repeated attacks or theft of data by malicious hackers, who then demand money to stop the attacks or to return your data. Cyber insurance can help with data recovery and payments.

First Party Data Protection

This type of insurance covers loss of your digital assets from a breach of your system, equipment damaged by an attack and loss of business income. Your business needs First Party Liability insurance to help recover your data quickly.

Loss of Business Use

Reimbursement for loss of income due to a system failure or service interruption can help your business recover from a partial or total system failure.  Many businesses rely on their networks to conduct business and to connect with clients.

Crisis Response Expenses

After a breach, it is very important to notify the insurance carrier as soon as possible.  An attorney specializing in Cyber Liability can manage notification of those individuals affected by the breach, and assist with legal matters.  A forensics team will work quickly to determine the cause of the breach and help with a plan against future attacks.

Coverage Designed for You

Policy limits and deductible can be structured to address the individual privacy concerns of your business. If one exposure is of greater importance, a higher limit can be written. Cyber coverage requires certain security controls be in place and monitored.

Application Overview

The application is a detailed look at the company policies and procedures to protect their privacy. These are some topics the insurance companies are reviewing.

General Company Information

GROSS REVENUES

NUMBER OF RECORDS

TYPE OF PII OR PIHI

NUMBER OF EMPLOYEES

Privacy Management

PRIVACY POLICIES

PRIVACY CERTIFICATIONS

EMPLOYEE TRAINING

THIRD PARTY CONTRACTUAL OBLIGATIONS

System Controls

EMPLOYEE RESTRICTIONS TO DATA

RECOVER PLANS, POLICIES AND PROCEDURES

FIREWALLS, NETWORK SECURITY, ENCRYPTION

BACK-UP FILES

Prior Claims

PRIOR CYBER INSURANCE COVERAGE

PAST CLAIMS FOR PRIVACY, IDENTITY THEFT, BREACH

PAST EXTORTION

PAST LEGAL INVESTIGATION

How we’ve helped businesses like yours with their environmental insurance needs

Fusce dapibus, tellus ac cursus commodo, tortor mauris condimentum nibh, ut fermentum massa justo sit amet risus. Aenean lacinia bibendum nulla sed consectetur. Duis mollis, est non commodo luctus, nisi erat porttitor ligula, eget lacinia odio sem nec elit. Maecenas sed diam eget risus varius blandit sit amet non magna. Aenean eu leo quam. Pellentesque ornare sem lacinia quam venenatis vestibulum. Duis mollis, est non commodo luctus, nisi erat porttitor ligula, eget lacinia odio sem nec elit.

Etiam porta sem malesuada magna mollis euismod. Vestibulum id ligula porta felis euismod semper. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Aenean eu leo quam. Pellentesque ornare sem lacinia quam venenatis vestibulum. Morbi leo risus, porta ac consectetur ac, vestibulum at eros. Lorem ipsum dolor sit amet, consectetur adipiscing elit.

“Morbi leo risus, porta ac consectetur ac, vestibulum at eros.”

Donec id elit non mi porta gravida at eget metus. Curabitur blandit tempus porttitor. Cras mattis consectetur purus sit amet fermentum. Integer posuere erat a ante venenatis dapibus posuere velit aliquet. Maecenas sed diam eget risus varius blandit sit amet non magna.

Joan Smith

Title
Company Name

Let's Save You Time
 

Hillcrest agents streamline the paperwork, provide fast turnaround for service requests and coordinate claims so our clients can spend time growing their business.

Phone: 860-339-5534
Fax: 860-339-5659
service@hillcrestagency.com 

Hillcrest Agency
28 Main Street
Essex, CT 06426

How can we help you today?

A little information can tell us a lot before we speak in person. 

 

8 + 1 =

[]
1 Step 1
Name
Previous
Next