Cyber Liability
Offered by Griffin Underwriting Services
Cyber Liability Cyber & Privacy Liability Cyber Security & Privacy Financial Institutions Cyber Liability Cyber Crime First Party Cyber Cyber Cyber RiskDescription
Product Features
Coverages available
• Network/Security Liability - coverage for claims arising from unauthorized access to data, failure to provide notification of a data breach where required by law
• Media Liability - coverage for claims arising from copyright infringement, plagiarism, libel/slander in electronic content
• Computer Fraud - coverage for loss of money, securities or other property due to computer virus or unauthorized access
• Crisis Management Expenses - coverage for public relations services to mitigate negative publicity
• Regulatory Defense Expenses - coverage for governmental claims made as a result of network, security, communications, and media liability
• Systems Business Interruption - coverage for loss of income or expenses as a result of a computer system disruption caused by a virus or unauthorized computer attack, etc.
• Limits can be combined, separate or provide specific sublimits
Why Buy Data Breach Insurance?
• Data breaches occur every day.
• While hacking incidents are the most recognizable and expensive cause of data loss, they are not the most common:
• 40% are caused by people making mistakes, such as losing a laptop or flash drive
• 36% are system glitches
• 24% are malicious criminal attacks
• The average cost of incident per customer is over $200. Costs may include:
• Customer notification & support
• Forensic research & data recovery
• Credit monitoring
• Legal fees
• Public relations
• Technology changes & staff education
• Reward & extortion expenses
• Replacing stolen funds or securities
Eligible Risks
Most businesses have the legal duty to notify their clients or patients in the event of a data breach. High risk businesses include:
• Healthcare
• Educational Organizations
• Retail & Wholesale
• Insurance Agency
• Law Firm
• Community Bank
• Childcare
• Hospitality
*This is just a coverage overview. Actual policy wording applies.
Coverages available
• Network/Security Liability - coverage for claims arising from unauthorized access to data, failure to provide notification of a data breach where required by law
• Media Liability - coverage for claims arising from copyright infringement, plagiarism, libel/slander in electronic content
• Computer Fraud - coverage for loss of money, securities or other property due to computer virus or unauthorized access
• Crisis Management Expenses - coverage for public relations services to mitigate negative publicity
• Regulatory Defense Expenses - coverage for governmental claims made as a result of network, security, communications, and media liability
• Systems Business Interruption - coverage for loss of income or expenses as a result of a computer system disruption caused by a virus or unauthorized computer attack, etc.
• Limits can be combined, separate or provide specific sublimits
Why Buy Data Breach Insurance?
• Data breaches occur every day.
• While hacking incidents are the most recognizable and expensive cause of data loss, they are not the most common:
• 40% are caused by people making mistakes, such as losing a laptop or flash drive
• 36% are system glitches
• 24% are malicious criminal attacks
• The average cost of incident per customer is over $200. Costs may include:
• Customer notification & support
• Forensic research & data recovery
• Credit monitoring
• Legal fees
• Public relations
• Technology changes & staff education
• Reward & extortion expenses
• Replacing stolen funds or securities
Eligible Risks
Most businesses have the legal duty to notify their clients or patients in the event of a data breach. High risk businesses include:
• Healthcare
• Educational Organizations
• Retail & Wholesale
• Insurance Agency
• Law Firm
• Community Bank
• Childcare
• Hospitality
*This is just a coverage overview. Actual policy wording applies.
Details
Appointment Required
Carrier Information
Multiple Available
Offered By
Downloadable Files
Availability 50 states + DC
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Covered
Not Covered
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