February 25, 2015
When it comes to a data security breach or privacy loss, it isn’t a matter of if it will happen as when it will happen. So when it does happen, you’ll need comprehensive protection from an insurer that specialises in handling cyber risks, offers a full suite of integrated insurance solutions to help minimise gaps in coverage, and understands how to tailor coverage to your business.
The Information Age Is Changing Business Models And Insurance Needs
The information age allows us to collect more data, store more data and extract information around the globe 24/7. This access to private and sometimes sensitive information can significantly increase a company’s vulnerability to cyber security threats – any of which can result in significant out-of-pocket and reputational costs that can devastate the bottom line.
How prepared is your company for:
- Identity theft resulting from lost or stolen financial information, credit card numbers, tax file numbers or other confidential information?
- An e-business interruption resulting from a security failure or Internet virus?
- Costs related to privacy notification, crisis management, and disaster recovery?
- Hacker malfeasance resulting in theft of confidential information or costly e-vandalism?
- A lawsuit stemming from a security failure or alleged technology error or omission that results in damages to customers?
- A lawsuit alleging intellectual property, trademark, or copyright infringement?
- A lawsuit alleging invasion of privacy, defamation, or product disparagement involving information residing as email; on laptops, smart phones, flash drives, or servers; or on the Internet?
- A cyber extortion threat?