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Haylor Risk Management Blog

Insuring Peace Of Mind:  Managing your Cyber Liability

Posted by Risk Management Team on Feb 26, 2016 11:24:26 AM

Businesses are working hard to keep up with the demands of constant change in technology.  Information technology  professionals are vital to daily operations and digital data security, but so is having a clear understanding  of how to protect your business if you experience a cyber attack.

As we all hear in the news on a daily basis,  there have been numerous cyber attacks, several of these with major companies based in the United States.  With each of these attacks, we find new understanding of flaws with digital security and the need to train employees on safe practice when handling removable media devices and personally identifiable/confidential information to avoid data breach.

The cost of cyber attacks that involve a data breach, which can include business practices and plans, as well as confidential employee and clientele data, is virtually immeasurable.  The reputation of the company is typically scrutinized via media and word of mouth.  It may seem like there is no hope.  This is where proper Cyber Liability Insurance Coverage can help.  Demand for proper coverage is rapidly increasing.

 

Key Questions to ask yourself:

  • Does having a website or social media page for our business mean we have exposures to claims?

  • Are we responsible if there is a security breach to our network?

  • Does Cyber Liability Insurance cover computer viruses?

  • Am I responsible for confidential information on a stolen laptop or smart phone?

 

Find out the 7 reason your company needs both First Party and Third Party Coverage to properly protect your business

More Key Coverages

 

 

 

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