Cyber Liability & Data Breach Protection

Risk managers and business owners face increasingly serious information management challenges. Regardless of business size, a data breach tends to trigger a significant financial and human resource burden. 

Not all cyber liability policies are the same. A typical cyber liability policy can help protect you from hours and unforeseen costs associated with a data breach caused by: 

  • Hacking
  • Human error
  • A faulty transaction 
  • Malfunctioning technology
  • Data loss due to natural disasters
  • Lost or improperly disposed data

A cyber liability policy may help with the costs associated with: 

  • Forensic expense to find out and resolve what happened
  • Expense of legally required notifications and credit monitoring to those whose information is exposed
  • Crisis services and public relations expense to maintain business reputation
  • Regulatory and payment card industry fines
  • Legal defense and settlement
  • Hacker extortion demands
  • Business interruption, lost income and restoration of data post breach
  • Breach of contract

Towne Insurance understands how to negotiate and help you buy effective cyber liability insurance and data breach response options for your organization. Premium bearing factors may include: 

  • Gross revenue
  • Amount of payment card transactions annually
  • Amount of records containing Personally Identifiable Information* you store, at any one time
  • Compliance with standards such as Payment Card Industry Data Security Standards (PCI/DSS)
  • Prior security incidents, claims and circumstances