Cyber Risk Liability Insurance

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Cyber Risk and Network Security

The Right Response to New and Emerging Cyber Exposures.

Your company takes advantage of the latest advances in technology, but is it ready to respond to the most recent cyber risks?

With all of the opportunities allowed by new electronic developments, there are accompanying exposures. Today’s companies can fall victim to, a multitude of cyber crimes, including:

Malware/virus infection and contagion
Web media that appropriates another’s intellectual property
Loss of laptops or smartphones with sensitive customer or employee data
Trade secrets that have been compromised by hacker intrusions

The damage caused by any of these losses could be substantial. The financial cost for an average data breach is more than $5 million.

Consider the effort required to:

Identify the source of the data breach
Notify customers whose records may have been exposed
Provide credit monitoring services
Remediate corrupted data
Bolster consumer confidence in the aftermath of an event

Costs can escalate rapidly, and with computer-related events increasingly excluded from general liability policies, it’s easy to see why cyber liability insurance is necessary.

All privacy and cyber liability insurance policies are different, and coverage terms can change as quickly and as rapidly as the risks they cover. In addition, the expertise that insurers have in the market can vary greatly, as some have sold cyber products for several years while others are just now coming out with cyber liability insurance policies.

That’s why it takes a specialist that can help you tackle the moving risks posed by technology, assess those exposures that threaten your company or organization, and identify the coverage that matches your risk profile.

As the nation’s premier specialty retail insurance brokerage company, Alliant Insurance Services has been ahead of the game at every turn in the market. Our reputation has been built on the depth of experience and breadth of resources that are devoted to developing thoughtful solutions that guard our clients against emerging risks.

For more information, contact:

Brian Dunphy

Senior Vice President, Managing Director

Podcasts:

Ransomware! - The rise of ransomware attacks and some of the key areas to focus on in order to defend against possible intrusions

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Cyber Risk and Network Security

For more information, contact: