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Your agency depends on your computer system, confidential client information and Website operation every day. Protect your data with cyber liability insurance available through PIA.
Are you prepared to comply with complex breach notice laws? Can you securely bring your system back into operation and defend your business in a network security lawsuit? In today's technology-driven world, the risks associated with doing business online and storing sensitive customer data electronically have never been greater. Cyber risk is steadily increasing and data breaches now affect hundreds of millions of records a year. Reports of cyber breaches continue to rise at a dramatic rate-from large corporations to local mom-and-pop businesses.
As an insurance agency, you are trusted with storing private client data such as driver’s licenses, birthdates, addresses, credit history and more. The bottom line is, you are responsible for protecting your clients’ data and can be liable if it is compromised.
To protect against the ever-increasing threat confronting agencies as they handle their clients' information, PIA has introduced coverage of cyber liability for insurance agencies.
Current offerings can include:
First and third-party protection in a comprehensive coverage form
Covered cause of loss includes administrative or operational mistakes
Breach of privacy coverage—includes damages resulting from alleged violations of HIPPA, state, federal and foreign privacy protection rules
Customer breach notice expense and coverage (via sub-limit)
Limits up to $5 million
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