Posts made in May, 2016

Does your business need Cyber Liability or Data Breach Insurance?

Posted by on May 16, 2016 in News | 0 comments

When a data breach occurs, quick action is important to help restore the public’s confidence if you’re a business victimized by a cyber-attack. Cyber liability insurance and data breach insurance from our partner, The Hartford helps cover costs like notification, identity protection solutions, public relations, legal, liability and more depending on the coverage you choose. Harned Insurance can help you find the cyber security coverage that is right for your company. To mitigate the risk of civil litigation and other penalties when a data loss or theft occurs, a cyber liability or data breach insurance policy can provide access to professional assistance to help businesses comply with applicable laws and regulations. Quick responses when a data breach occurs. Businesses must respond swiftly to minimize the impact of a data security incident on their customers, employees and their business. Their reputation is at risk, and there are laws and regulatory requirements that must be addressed immediately or companies that experience a breach could face steep penalties and even lawsuits.  Protection includes access to experienced breach response partners that can assist businesses in meeting their lawful obligations and communicating to those who may be affected by a cyber threat, breach or theft of personally identifiable information entrusted to the business. Help prepare businesses for a data breach.  Our Data Breach and Cyber Liability coverages include access to services that assist businesses in preparing for a breach by helping ensure that proper security measures are in place before there is an incident. For example, these services can help businesses with network security, employee training, developing appropriate privacy and network policies and procedures, identifying and managing company assets, and incident response planning.  Data security is challenging and requires a holistic, multi-faceted approach.  Harned Insurance can help businesses take the appropriate next step in improving their cyber risk. Through our partner, The Hartford, we offer 24/7 access to a data breach preparedness website for easy-to-understand prevention and response guidelines that outline the steps businesses can take to help prevent a cyber event. For larger cyber liability policyholders, The Hartford’s Cyber Security Services provide a holistic solution that helps you effectively manage cyber risks, as well as take action when the inevitable cyber event occurs. Does your business need Cyber Liability or Data Breach Insurance? Most business owners understand that the personally identifiable customer information they have on their computers is a target for hackers and that their online presence leaves them open to liability claims. However, far fewer take adequate measures to protect their business. Here are some example scenarios where a businesses could benefit from cyber liability or data breach insurance: The business has a network that their employees all save data on, which is helpful but also puts the entire operation at risk should a computer virus work its way in. The business keeps customer/patient records such as medical histories, credit card, bank account and social security numbers in its database – which is a target for hackers. Why Small Businesses Should Consider Cyber Liability Insurance In the event of a data breach, a business must respond quickly to help protect impacted individuals and the business’s reputation.  Our coverage can help with response related expenses including, costs to notify impacted individuals and good faith advertising. And in most states, coverage is available to help cover legal defense and liability expenses if your business is sued because of a breach. Data breach insurance can be added to The Hartford’s Business Owner’s Policy and General Liability Choice® policy. Our Data Privacy – Network Security Liability policy and CyberChoice 2.09 are stand-alone policies that allow...

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