Here are some questions to ask yourself to determine if you need Cyber Liability:
1.) What would happen if private information from your employees or clients that was entrusted to you was stolen? (Reputation, loss of customers, lawsuits, money)
2.) How many paper and electronic records do you have stored?
3.) What social media are you using? Consider issues with copyright, trademark, defamation, slander, invasion of privacy.
4.) Are you aware that cyber liability is excluded from your general liability policy?
5.) Are you aware that the average first party cost for a claim in $73/record? This includes notifying those affected, monitoring their credit, PR, and call centers.
6.) Are you aware of the notification requirements in the event that there is a privacy breach?
7.) Are your employees accessing your systems via a mobile device?
Cyber Liability is a very important policy that does not cost as much as you may think. Contact us to get a quote