As a technology company, we recognize the risks associated with data and technology in business today. Data breaches, network failures, cyber extortion and other cyber risks are increasingly large exposures for technology and non-technology companies alike.
Cyber Liability insurance exists as standalone insurance product, but is frequently purchased together with a broader Errors & Omissions Liability insurance solution. Our experts can work with you to secure a Cyber solution that is tailored to your business. We combine data, personalized service and expertise to help you identify your specific exposures. We then structure a cost-effective, customized solution, which includes the appropriate type and limits of Cyber Liability insurance.
Common Cyber Liability terms we can discuss together include: Data breaches, Network security / failures, Cyber extortion, PII data vs. Non-PII data, Media Liability, Prior acts, First party, Business interruption, Data restoration, Vendor selection, etc.
Our combination of service, expertise and technology helps clients determine the “right” solution for their business. Highlights of our services: - Strategic advice based on data from our proprietary benchmarking database to help you make decisions about your E&O / Cyber liability. - Advocacy and support from dedicated E&O / Cyber specialists, who work proactively through claims management. - An effective renewal marketing approach based on your personalized risk profile, and streamlined with our risk management platform.
Risk mitigation is available for both your own recovery expenses as well as third party liabilities:
- Forensic breach investigations.
- Legal advice to determine your notification and regulatory obligations.
- Notification costs to communicate the breach.
- Offering credit monitoring to customers as a result.
- Public relations expenses.
- Loss of profits and extra expense during the time that your network is down (business interruption).
- Legal defense costs, settlements, and damages related to the breach.
- Liability to banks for re-issuing credit cards.
- Cost of responding to regulatory inquiries.
- Regulatory fines and penalties (including PCI fines).