Cyber Protection

While business owners may understand the dangers of an overseas hacker who infiltrates their network and steals credit card numbers, most believe that their IT systems are protected by passwords and firewall's and that a privacy breach is covered under their business insurance. How prepared is your client for a data security breach? Find out. RPS Technology & Cyber's CCBsure Insurance Program has been insuring cyber security risks since 1997.Contact us today to explore all aspects of this significant protection.

What every business should know:

  • A breach can result from a simple mistake. An employee might misplace a laptop, Blackberry or data file or leave them in an unsecured location such as an unlocked car.
  • Any company can be hit. Retailers, health care facilities, manufacturers, professional service providers, media and entertainment companies and financial institutions are the most likely targets.
  • The culprit is often someone close to your business. A large proportion of breaches are carried out by employees or business partners.
  • Size doesn't matter. Half of all companies that suffer data breaches have fewer than 500 employees.
  • The costs of data breaches can be significant. Many states require companies to notify customers if a breach is even suspected and to take necessary steps to correct the situation - at an estimated cost of $50 per customer.  A cyber security failure can impact shareholder value, corporate stability, reputation and financial performance.

Please contact us for more information about Privacy/Data Breach Coverage.

Coverage Highlights

First Party Expense for:

  • Privacy notification expense
  • Crisis management and reward expenses
  • E-business interruption
  • E-theft and e-communication loss
  • E-threat
  • E-vandalism expenses

Third Party Liability Coverage for:

  • Disclosure injury
  • Content injury
  • Reputational injury
  • Conduit injury
  • Impaired-access injury

Underwriting Factors:

  • Business revenue
  • Employee count
  • Nature of the business
  • Technical safeguards the company has in place for cyber events
  • Overall privacy and security policies

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