Cyber events can have a significant impact on your customers, your employees and your bottom line. Businesses of all sizes are at risk. In fact according to a recent index, cyber risk is a top concern for all businesses, no matter the size OR the industry. The most common cause of a cyber claim is a lost or stolen laptop or device with hackers in a close second. That is proof that all businesses are at risk. The costs associated with cyber related events can reach millions of dollars with the expense of legal defense, legal settlements, lost business, notification costs and more.
The potential for a cyber event is real regardless of the size of your organization and the worst thing you can do is IGNORE the risk.
If you were faced with a cyber event, would your business be able to recover?
Gallen Insurance has cyber insurance solutions that provide coverage and resources to help your business address the potentially devastating impacts of a variety of cyber events. Take a look at the Coverage Features below.
Coverage Part A:
- Data Breach Liability – Claims arising from the public disclosure of private information without the authorization of the owner of such information.
- Security Breach Liability – Claims arising from failure of Insured’s computer hardware/software or other security to prevent transmission of malicious code or denial of service attacks against third parties or the manipulation of data stored by the Insured.
- Defense of Regulatory Proceedings – due to violations of federal or state laws regulating the protection of private information.
- PCI Fines & Penalties – Credit or debit card industry fines and penalties for inadequately securing payment card information.
Coverage Part B:
- Minimum premiums starting at $925
- Retentions start at $2500
- Separate aggregate limit of liability per Coverage Part with option to combine into one aggregate limit
- Data Breach, Website Liability and Identity Theft expense paid as incurred.
- Free access to an eRisk Hub Cyber Liablity web protal, webinars & newsletter.
- Access to the Business Resource Center which provides free and discounted business solutions to policy holders.
- Security of an insurance carrier rated A++ by A>M> Best
Gallen Insurance provides Cyber Liability and Data Security Insurance solutions to residents of Berks County and the Greater Reading Area.