There are all types of cyber incidents impacting our customers on a regular basis, and the frequency is only growing. If you're conducting your business online using email and electronic banking or storing private personal information on your database (whether in-house server, outside services or cloud) your business is exposed. We help our business insurance customers evaluate their current cyber/computer system exposures and determine the right policy to ensure their risks are minimized and that they’re fully covered.
Total number of complaints of internet crime*
Total dollar amount of losses reported to the FBI*
Businesses that experienced a ransomware attack*
What will cyber insurance pay for?
Cyber Incident Response
(Computer viruses, malware, and denial of service attacks)
• IT Forensic Consultant to uncover cause of computer breach and fix it and determine extent of information stolen
• Expenses to purchase new computers &/or software if necessary
Business Interruption & Extra Expense
• Loss of Income due to inability to operate your computer system
• Extra Expenses to use another system temporarily
Data Recovery
• Re-build your data base
Network Extortion
• Ransomware attacks – payment of ransom to re-open and use your computer system
Cyber, Privacy & Network security
Theft of sensitive business data or private personal information (PPI: i.e. names, addresses, DOB, SS#, Driver License #s, Medical information)
Theft of Credit/Payment Card Information
• Expenses to notify all persons affected
• Cost of 1-year credit monitoring ($200-$300 per person)
• Credit/Payment Card Bureau Fines Defend Costs and payment of lawsuits for information &/or identity
• Theft due to your system breach
Computer Fraud
• Hacking of On-Line Bank Accounts or email transactions
Funds Transfer Fraud
• Hacking and Diversion of Bank/Wire
• Transfers Email Invoice Diversion
Social Engineering Fraud
• Employee sending money or merchandise based on fraudulent emails or instructions
Included with policy:
• Preventive Services/Pre-Incident
• Training Modules for Employees
• Post Incident Coaching and Consultants
Contact us today to learn more.
*Sources: FBI’s 2018 Internet Crime Report & Insurance Information Institute