Cybercrime is the fastest growing white collar crime in America, and it is much easier to breach a database than it is to rob a bank. Cyber liability insurance can help protect your business from cyber crime and data breaches. In this era, every company has some sort of cyber and crime exposure. Learn more about cyber insurance and get protected today.
Companies storing personal information must promptly notify persons whose information has been accessed by an unauthorized person. In addition to costs of notification, these laws create potential civil liability if proper and timely notification of a data security breach is not given. What information are you handling as a realtor?
A failure of network security can lead to many different exposures, including consumer data breach, destruction of data, virus transmission and cyber extortion .
However, privacy does not have to involve a network security failure. It can be a breach of physical records , such as files tossed in a dumpster, or human errors such as a lost laptop, or sending a file full of customer account information to the wrong email address. Companies have also faced liability from returning a photocopier with a hard drive that contained unwiped customer tax records.
Network Security and Privacy Liability Coverage covers both first party costs and third-party liabilities:
Please contact our office for an application if you wish to secure a cyber quote for your firm.
All too often the decision to select E&O Insurance is driven by cost alone (the less expensive the better) and no consideration is given to the coverage under the policy. When price becomes the primary focus of purchasing a policy, you may be overlooking important coverage. There is a misconception that if you have E&O you are fully covered for everything you do. This is simply incorrect. DISPEL THE E&O MYTH.