We’ve all seen the headlines in recent years… a company has inadvertently distributed customer data and, in addition to the tremendous costs to repair the situation, the loss of business and customer confidence can have far-reaching implications. It can happen with the swipe of a credit card, a hacker invasion, an outdated computer, a lost thumb drive or a simple malfunction in your payment card processing system.
Recouping that information can include forensic research, credit monitoring, notification costs, fines, penalties and lawsuits. And, many states now require companies to notify customers if a security breach is even suspected. Remediation can easily cost $30+ per customer file.
In today’s world, Cyber Liability Coverage is not a luxury. Call HFIG for a
If you take credit cards, retain electronic customer data or do business over the internet, you need Cyber Liability Coverage
• Third party liability for financial loss, mental anguish, mental distress and any breach-related claims • Breach of contract coverage
• First party coverage for breach-related expenses • Coverage for computer forensics
• Coverage available for costs outside policy limit, business interruption, lost income and restoration of data post breach
• PCI fines, penalties & remediation