Over the last five years insurance coverage around both privacy & data breach and the more traditional risks of cyber liability has reached the tipping point. What was once confined to the specialty market has evolved into coverage that is easily quoted and obtained. Oftentimes just answering 5 simple questions and 10 minutes of your time we can gather the information to get you a quote.
A data breach is the unintentional release of sensitive information into an unsecure environment, or the intentional theft of that information by an unauthorized individual. Data breaches may involve financial information such as credit card or financial account details, personal health information (PHI), personally identifiable information (PII), trade secrets or intellectual property. The trustee of this privileged information may be subject to criminal and/or civil penalties for failure to protect the data.
If you have already experienced a breach of your personal information, find tips here:
Traditional liability policies do not address data exposures and the risks involved with running an internet business or managing e-commerce. Designing a web site is simple. The exposures and risks that come with it aren’t. Private companies that venture onto the internet face liability exposures that are emerging, evolving, and complex.
For a company operating in today's high tech world, your computer network will more than likely provide internal and external email. You will probably have your own web site providing information about your company, its products and services, and how customers can obtain said products.
Cyber Liability Insurance addresses the first and third-party risks associated with e-commerce, the internet, and informational assets. Cyber Liability Insurance offers protection for exposures arising out of internet communications. Areas that are subject to risk include Infringement of intellectual property, virus transmissions, or any other serious trouble that may be passed from first to third parties via the web.
Along with the convenience of worldwide communication, the internet brings a whole host of liability exposures. By disseminating information to the public via through the internet, commercial businesses now have some of the same exposures as literary publishers. Traditional publishing exposures such as copyright infringement, defamation and invasion of privacy have become more prevalent in the digital world we all use for shopping, communicating, and even simple driving directions. Many company owners designing their own websites have little or no concept of the legal responsibilities that come with having a web presence. New legislation continues to create potential liabilities, particularly in the areas of user privacy and domain name infringement.
Contact a professional at A.R.M. Insurance Agency, Inc. and let us help protect you against the hazardous and often confusing world of cyber security.