Cyber Liability

According to the Ponemon Institute, the average total organizational cost of a data breach in 2017 in the U.S. was $7.35 million,^* one of the highest costs in the world. Protecting your firm against the costs of cyber incidents makes good financial sense. Bankers Insurance Service’s Cyber Liability and Breach Response Insurance provides coverage and protection against data breach incidents.

Available Features Include:

Insures against theft, loss, or unauthorized disclosure of customers’ personally identifiable non-public information
Protection and assistance to comply with breach notification laws
Separate limits of liability to cover: cost to determine the cause of the breach, attorney’s fees to comply with applicable Breach Notice Laws, and costs for ongoing credit monitoring
Covers public relations and crisis management expenses
Fills cyber liability coverage gaps in existing property, general liability, professional liability, directors and officers, and employment practices policies

Cyber Liability

Product Overview