Did You Know A Compromised Laptop Could Cost You Nearly $50,000?
The financial implications for a small business or independent contractor affected by a data breach can be devastating. In fact, studies show that 60 percent of small businesses go out of business within six months of experiencing a data breach.* The best way to prevent becoming a part of this sobering statistic is to protect your business by having insurance coverage in place.
This Cyber Liability and Data Breach Insurance program provides RIA owners and independent financial advisers with coverage to help protect against the financial burden created by a data breach.
*Source: U.S. National Cyber Security Alliance.
This Cyber Liability and Data Breach Insurance program provides RIA owners and independent financial advisers with coverage to help protect against the financial burden created by a data breach.
*Source: U.S. National Cyber Security Alliance.
Protect your business again the high financial costs associated with a data breach, including legal counsel, credit notification, monitoring services, regulatory fines, forensic investigation, and more.
Reasons To Consider A Cyber Liability & Data Breach Policy:
- Easy Online Quote and Purchase Process
- Coverage for Social Engineering, Theft By Hacker, Theft By Employee available
- Top-Rated, Admitted Insurance Carrier
- Access to 24/7/365 Breach Response Line
Reasons To Consider A Cyber Liability & Data Breach Policy:
- Responding to a breach is not only costly — it's complex. Experts from multiple disciplines—from forensic investigators, to public relations firms, to privacy counsel — may be needed to mount a coordinated response to even a small incident.
- A single laptop left on a commuter train or stolen at an airport can cost an agent nearly $50,000 — most of that being expenses to respond to data breached—or potentially breached.
- State and federal regulations dictate proper handling of private information. If this information is breached, agents must navigate the different laws in 46 states that mandate how victims must be notified.
- Even if you outsource data handling, your exposure stays in-house. Some 70 percent of small businesses report that breaches are more likely to occur when outsourcing data.
- The exposure is not just from hackers intruding on electronic systems. Breaches are caused by everything from lost, discarded, or stolen laptops, PDAs, smartphones, and portable memory devices, to innocent procedural errors and acts of disgruntled employees.
HAVE QUESTIONS? Click here to set up a 30-minute phone consultation to discuss this coverage.
Ryan Insurance Strategy Consultants, A Gallagher Company, offers RIA E&O and Cyber insurance for
FPA members through NAPA Premier.
FPA members through NAPA Premier.
|
|