Data Breach Insurance
With the proliferation of data breaches we now offer new data loss insurance programs aimed at businesses that might be put at financial risk if they lose valuable and sensitive data. The new coverage can be purchased as a stand alone product or as an add-on to your existing business owner policy. It covers legal liability expenses and offers resources for you to comply with regulatory requirements.
More than 40 states have laws that spell out what businesses are required to do when they lose sensitive data and also sets penalties if the requirements aren’t met. Our programs pay the cost of responding to a breach, including legal and forensic measures. It also pays for notifying those whose data was affected, crisis management and the cost of advertising breaches. It also covers legal defense and liability such as civil awards, settlements and judgments policy holders are legally obligated to pay.
Part of the coverage includes access to a website on being prepared for breaches. This offers advice about protecting customer, patient and employee personal information and mapping out a plan for responding to incidents. It also provides a state-by-state library of data-breach regulatory requirements. The policies also include consulting to help with notifying appropriate parties about breaches and obtaining credit-monitoring services for people whose data was compromised and are in danger of identity theft and fraud.
Get a better idea of your risk exposures – let us provide a free evaluation of your data breach risk. Contact a Zeiler Insurance Services professional today at 800-341-6179 or by filling out the form on this page.