A Data Breach Can Take You By Surprise Would you be prepared if your business experiences a breach? Cyberattacks have long been a persistent risk to businesses, but their visibility has increased in recent years. As larger entities have improved their defenses, cyber attackers are searching for easier targets and have shifted their attention to smaller entities. Most states now require all businesses to promptly notify every individual affected by a data breach. Beyond legal requirements and costs, how you respond to these events can mean the difference between preserving your clients’ trust or losing it. When suddenly confronted with a data breach, many companies make mistakes that can significantly increase their cost of responding and put their reputation at risk. How To Be Prepared For A Cyber Attack In today’s digital and interconnected world, every business relies on data and networked computer systems. No business can afford to lose this important information. Now you can not only assess your risk, you can also develop an effective response plan to help protect your client relationships and business reputation in the event of cyberattack. As part of our Data Compromise and CyberOne™ coverages, we offer a free online portal that equips you with risk management tools to help you plan and be prepared should the unexpected happen to your business.
- First party: Data breach expense coverage for items such as notification letters to customers and call handling and reporting
- Third party: Third-party liability coverage including media wrongful acts, network security wrongful acts and privacy wrongful acts.
- Ransomware and extortion: Protection against criminals who install malware on your device and demand payment (anywhere from $500-$1,000) to remove it.