Cyber and Privacy Security Liability
We don’t accept credit cards, do I really have an exposure?
Many companies argue they don’t, when actually every company has some exposure as a result of the data they are required to accept or maintain on a daily basis. It is not just credit cards. Businesses that collect or maintain Personally Identifiable Information (PII), Protected Health Information (PHI) and Confidential Business Information (CBI) on behalf of their customers or employees also have exposure and can sustain significant financial loss as a result of a breach.
In today’s world of big data, it is increasingly difficult for companies to protect all of this information. Over 70% of all data breaches occur in small to medium sized businesses and most data security experts agree, no matter the size of your business, a breach is inevitable. Most likely, your data has already been compromised and you are not even aware of it.
Axon Underwriting provides:
Experienced Privacy Team with over 30 years of combined cyber placement expertise
Complex risk placement experience
Proprietary Policy Forms
Direct access to every major privacy and security insurance market
In-house Legal Assistance Team
Outside Legal resources
3rd Party Pre and Post Breach Resources
First Party Risk:
Legal Liability to others for computer Security Breaches
Legal Liability to others for Privacy Breaches
Regulatory Actions Costs
Scrutiny Notification Costs
Third Party Risk:
Loss or Damage to Data/Information
Loss of Revenue and Additional Expenses
Damage to Reputation
Cyber – Extortion
Physical Property Damage