Cyber Security Liability & Data Breach Insurance

 

Cyber liability insurance covers damages and costs related to data breaches, multimedia liability, extortion, and network security, among other cyber risks. These damages and costs can be high and can significantly inhibit a business or destroy a business altogether. For this reason and others, it is important for businesses of all sizes to have strong cyber security liability policies. 

 

There are more than five hundred data breaches each year and the number of annual breaches is increasing. These breaches are often referred to as ‘targeted attacks’ and are significant financial burdens to companies that suffer them. In fact, costs of each breach far outweigh costs of original records in breached data.

 

At CBIZ-Sattler Insurance Agency, we understand the risks that businesses face. Our specialists have extensive knowledge of specific industries and experience managing breach incidents. We are dedicated to your individual policies and can help you manage your risk over time.

 

Our approach is consultative so we work with you directly. We are available to you when you need us, whether it’s online, over the phone, or in person. If you’re securing coverage for a particular business model, industry, businesses size, or exposure, we’ll help you understand your needs and match these needs with the right policies.

 

Simple human error causes 3 out of 4 data breaches

 

data breach is the unintentional release of sensitive information into an unsecure environment, or the intentional theft of that information by an unauthorized individual. Data breaches may involve financial information such as credit card or financial account details, personal health information (PHI), personally identifiable information (PII), trade secrets or intellectual property. The trustee of this privileged information may be subject to criminal and/or civil penalties for failure to protect the data.

 

If you have already experienced a breach of your personal information, find tips here:

 

How to Deal with Security Breach

 

What does Cyber Liability Insurance Cover?

 

Cyber liability refers to risks related to the use of computers, Internet, computer networks, and electronic information databases. ‘Cyber liability insurance’ provides protection for these risks and coverage for the damages and costs that result from risks if and when they become realities. 

 

Cyber liability insurance protects against damages and costs related to:

 

  • Extortion
  • Human error
  • Privacy breaches
  • Theft of digital assets
  • Unauthorized access
  • Malicious code

 

There are two types of cyber liability insurance –first-party and third-party. First-party coverage offers financial compensation for cyber crimes and often involves reimbursements for business interruption, costs of notifying customers of breaches, and public relations costs. Third-party coverage offers financial compensation for general losses including direct losses, legal liabilities, and consequential losses.

 

If you are seeking or have questions related to data breach coverage, request a quote below to contact one of our friendly and knowledgeable professionals today. We look forward to hearing from you!

 

Our Location

CBIZ-Sattler Insurance Agency

1504 8th St
Lewiston, ID 83501
Main office: 208-743-9426
Toll free: 800-615-8418

Our Providers

Testimonials

"I would like to compliment You on a Great choice on one of your staff: Katy Miller is one of the finest Insurance agents I have ever worked with !! Anytime I ask for any info, She is very quick to respond with an answer. Her follow up is 2nd. to none!! When I stop in unannounced, Katy always has time for me!!!! It’s a pleasure to work with Katy each & every time I need help..."
Gary & Lydia Johnson
"Tyler, I appreciate your persistence with obtaining insurance for Jackson Hole Packraft. It enabled me to have a record-breaking season. It was a pleasure to work with you!"
Amy Hatch - Owner of Jackson Hole Packraft
I have recently taken over Grand Canyon Expeditions position as President of the company. I have been involved with GCEX for over 28 years, but never really involved in the details of our insurance and our commitments to the NPS as a concessionaire. Holly Friede was so kind and patient with me in helping me to understand and get a grasp of all the details, she even helped me to make additional decisions to better our coverage in this economy. As we would say to Holly and Sattler Insurance from the river...”many thanks to you, with big waters, blue skies and a GRAND season, thank you from the bottom up”. Sincerely, Marty Mathis /Grand Canyon Expeditions
Marty Mathis - Grand Canyon Expeditions