Cyber – Did you know?

May 12, 2016 no comments Business, Company News


  • A study by a major credit card company found that 85% of all data breaches occur at the small business level.
  • Organized crime considers small businesses to be low risk, high reward targets.
  • Small business owners are popular targets of identity thieves because they have larger lines of credit, higher volume of
    transactions and valuable computer networks.
  • Common reasons personal information is breached include criminal hacking, lost or stolen laptops, computers, or paper
    reports and negligent or malicious employee activity.
  • It is illegal for business owners to not report and not send notification to those whose legally protected personal
    information is breached.


  • Claims for failure to protect information, expense of legally required notifications and credit monitoring to those whose
    information is exposed, forensic expense to find out and resolve what happened, public relations expense to maintain
    business reputation, regulatory and payment card industry fines and hacker extortion demands.
  • In 2011, the average cost to business owners per record compromised was $194.
  • Small business owners have gone out of business due to identity thieves impersonating their business and personal
    name leading to loan defaults, inability to access credit and loss of business reputation.


  • Separate aggregate limits of liability per coverage part, with option to combine into one aggregate limit
  • Liability arising from both Data Breach & Security Breach
  • Data Breach Expense and Identity Theft expense paid as incurred (pay-on-behalf) instead of by reimbursement
  • Defense of Regulatory Proceedings
  • Payment Card Industry (PCI) Fines & Penalties
  • Data Breach Expense coverage including notification letters, public relations, forensics & credit monitoring.
  • Cyber Extortion Expenses
  • Website Liability including libel, slander, misappropriation of ideas, plagiarism, piracy, copyright & trademark violations
  • Identity Theft expense including credit monitoring & expense to retrain specialists to resolve identity theft for board members and owners

Apply for Cyber Liability Coverage today!