Cyber for Plan Sponsors

Unearthing the Cyber Dimensions of the COVID-19 Pandemic


Since the dawn of the coronavirus crisis, there has been a sharp increase in the amount of devastating cyber incidents across the globe. Per the cybersecurity firm CYE, the beginning of February and thereafter has seen cybercriminals exploiting internet user’s vulnerability during the global pandemic. As much as a five-fold increase in cybercrimes has been reported in the United States.

By leveraging the public’s genuine trepidation and augmented distraction associated with this catastrophic event, there is an amplified probability of workers clicking on malicious attachments or utilizing unsecure networks to retrieve sensitive personal information when working remotely. Ransomware attacks and phishing campaigns have skyrocketed over the past few weeks, with users opening links or attachments with coronavirus-theme communication, only to find their information stolen. One massive cyber-attack recently took advantage of the World Health Organization (WHO), with hackers falsely claiming to be WHO employees requesting sensitive information from the organization. Therefore, companies should protect themselves with service-based solutions that will help them mitigate against potential cyber threats. Colonial Surety Company’s cyber liability insurance can protect you and your business in connection with serious data breaches and give you peace of mind during this time.

Protect Yourself with Cyber Liability Insurance

We can strengthen our digital resilience and safeguard ourselves from this cyber-virus crisis and future ones as well. Colonial Surety Company can assist you at each stage of the incident instigation and breach response following a cyber-attack. Our cyber liability insurance can be purchased with our ERISA fidelity bond package, which comes with ERISA bond coverage and fiduciary liability insurance to protect you and your plan from covered lawsuits. Contact us today to obtain cyber liability insurance today.