Every Business Needs Privacy Protection

With even large entities like eBay and Target experiencing cases of cyber terrorism, it’s necessary that you seek out a buffer against these instances of internal and external cyber theft. Business owners in every industry are increasingly exposed to cyber liability related claims and incidents such as a lost laptop, rogue employee, and hacking and cyber attacks that can result in an embarrassing and costly loss.

Even more intrusive can be when the privacy of someone’s personal health information is breached. Cyber Security and Data Privacy Insurance, also know as Data Breach Insurance or Media Liability Insurance, protects the business owner with legal defense and indemnity against regulatory and liability claims arising from theft, loss, or accidental transmission of confidential client, patient or financial information.

Why the need?

Cyber Security & Data Privacy Insurance defends the insured for any claims arising our of a breach of privacy, cyber attack, denial of service or HIPAA violation.  Typically coverage is for electronic and paper-based information.  Some policies include coverage for both regulatory defense and the payment of regulatory fines or penalties.

Patient Notification & Credit Monitoring Costs Insurance includes all necessary legal, public relations, electronic forensics, advertising and postage expenses incurred by the insured to notify third parties of a breech of information, as may be required by the state.  In addition, one year of credit monitoring is included in some policies.

Data Recovery Costs Insurance provides reimbursement for reasonable and necessary amounts required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted, including software costs.