Cyber

Do I Need Cyber Liability Insurance?

11.20.2019

In today’s digital climate, hackers are around every corner, waiting for the right moment to swipe your most valuable business and personal assets. Without adequate coverage, your financial account details, social security numbers, and other sensitive information could be stolen. As cyber threats continue to fiercely climb, it is no longer acceptable or sensible for evolving businesses to stay unprotected

With most businesses continually nurturing their online presence, there are many ways cyber-breach can impact your company. For instance, hackers can forward phishing emails to clients masquerading as your business. If a client happens to click on the link inside the email, the hacker can steal their personal information. Another example of a serious cyber-attack can include hackers using a virus to secretly corrupt your data files. This vulnerable hit-jobs can enormously damage your business and its future.

However, with Cyber Liability coverage, you will be able to swiftly and successfully react to data breaches, significantly reducing liability for your company.  By investing in Cyber Liability Insurance, your business will be taking several vital steps towards protecting your company and its data against new emerging cyber threats. Our Cyber Liability Insurance comes exclusively with our two-to-three year ERISA Fidelity Bond package, which offers extensive coverage for your company and its employees.

What is Cyber Liability Insurance?

Cyber Liability Insurance covers your company’s pension plan’s financial liability for a cyber-breach that resulted in the loss of valuable information. Cyber Liability Insurance offers a sound solution to fruitfully handling data breaches while reducing liability for your company. At Colonial Surety, we provide a dedicated response team to help coordinate your next step following a data breach. Our forensic specialists can help uncover what information has been compromised and deliver computer expert service, call center services, breach resolution and mitigation services, public relations and crisis management expenses, and customer notification services. What’s more, we offer online access to extensive educational materials surrounding data breaches, loss control, and risk management.

Our experts will help you through every step of this life-altering digital disaster. We also safeguard and insure fiduciaries, or plan sponsors, from covered lawsuits, including liability coverage for unlawful leaks of personally identifiable information, failure of computer security to prevent a security breach, and violation of privacy law.

Cyber Liability Insurance from Colonial Surety

Cyber Liability Insurance is crucial for the prosperous financial future and well-being of your company. A single attack could be costly and devastating to try and conquer on your own. Our ERISA bond packages, which include ERISA Fidelity bond coverage, Fiduciary Liability Insurance and Cyber Liability Insurance, can help protect your company and its employee benefit plan from catastrophic damages to your brand and its valuable assets. Contact us to learn more about our ERISA packages and cyber coverage.