Cyber criminals are using advances in technology to cripple small business computer systems in order to extort money. And the largest group now being targets for attacks are businesses with less than 250 employees. Is your organization prepared to not be a victim?
Samples of Cyber Risks
In today’s connected corporate world, no business can claim to be 100% immune to a cyber attack. Have you ever considered what ramifications your business would have should you be a cyber victim?
- Someone in your company inadvertently downloads and installs a virus, which causes no one to be able to access any critical data. Your operations are now at a standstill. How do you continue operations?
- An employee loses a laptop or mobile device that contains very sensitive customer information. What do you do next?
- A critical database has become corrupted by computer malware and you don’t have ongoing back-ups. What risks are you now open to due to this loss of data?
First Party Coverage
At Cooke Insurance, our liability advisors can provide tailored Cyber Risk solutions for First Party Coverage that includes:
- Incident Response Expenses to notify all individuals affected, plus costs to mitigate negative public relations
- Business Interruption which covers lost income resulting from not being able to use the digital assets lost or affected
- E-Commerce Extortion Expense needed to pay third party ‘hijacker’ who threatens further cyber damage unless payment is received
Third Party Coverage
Our easy-to-understand Cyber Risk options include unique coverages which results in a comprehensive insurance solution to meet your Third Party Coverage needs, including:
- Network Security & Privacy Liability which covers liability as a result of a privacy breach or introducing a virus to a third party system
- Internet Media Liability which covers liability as a result of information posted electronically
- Regulatory Proceeding Expenses covers expenses and fines arising from a regulatory proceeding as a result of a network or privacy breach