One of the fastest growing areas of the insurance marketplace is Cyber and Privacy Liability. Virtually every organization in existence today stores data on computers, and has an exposure to Cyber and Privacy claims. The question is: how large is your companies exposure, and what are you doing about it?
Trying to judge your exposure? Consider these questions as a starter:
- Does my organization have confidential information about clients or employees in our records?
- Does my organization have a website, email system, or utilize a computer system?
- Do any of my staff carry electronics in the field which contain any confidential data or personal information of clients or staff?
- If my computer systems were to be hacked or infected, would it interrupt my business operation or my revenue stream?
- Does my organization process online payments or allow for data transfer or remote login to client or vendor portals?
If you answered YES to any of those questions, your organization definitely faces some level of Cyber and/or Privacy risk.
There is good news though: broad coverage is widely available at very reasonable rates in today’s insurance marketplace, often starting at under $1000. Just give us a call to discuss your exposure and the different insurance options available to your organization.