October is National Cyber Security Awareness Month
The Department of Homeland Security is a prime resource for individuals and businesses regarding the potential risks we are increasingly subject to in this highly technological environment. Desert Mountain Insurance is also a prime resource to ensure that you are educated on the available options to protect yourself and your business against the risk and astronomical cost associated with a potential threat or breach.
Each policy is different and can vary greatly between their insuring agreements, policy definitions, and policy exclusions. This is definitely a coverage that should be discussed with one of our insurance professionals!
The purpose of Cyber Liability is to cover costs incurred as a result of network and information security breach, communications and media liability, and regulatory defense expenses. Many Cyber Liability / Privacy Liability, policies provide protection for the areas listed below.
First Party Cyber Liability Insurance options:
Third Party Cyber Liability Insurance options:
Who should consider a Cyber Liability / Privacy Liability policy?
Any business that collects information such as:
Still not convinced? Here are a couple of brief scenarios where a Cyber Liability / Privacy Liability policy would benefit you:
A Cyber Liability policy would respond to claims such as these by potentially providing defense coverage, reimbursement for certain out-of-pocket expenses and liability coverage. The current theory should not be “if” a breach will occur, but “when” will it occur. It is important to make sure that you are partnering with an insurance professional that will understand and evaluate your currently liability policies and effectively provide recommendations regarding this valuable coverage.
Please contact Desert Mountain Insurance to set up a meeting to review your insurance policies.
Copyright 2016 Desert Mountain Insurance All Rights Reserved