Cyber Liability Insurance

Cyber Liability Insurance

Professional Insurance Administrator – 888.451.0883

In the cyber age, even small businesses need to be aware of the dangers of data breaches, stolen information, and security hacks. Insurance Specialists, Inc. can help you create a cyber insurance small business solution plan that is personally tailored to the exact needs of your company.

Our solution platform will be created to protect your business from liabilities due to:

  • Breach of personally identifiable information (PII)
  • Leaked customer information
  • Stolen payment card information
  • Lost employee identification information

Contact our professional insurance administrators today to begin exploring your options. With our 50+ years of experience in this industry, you can trust that we will find you an insurance solution that works.

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Details Regarding the Cyber Small Business Solution

If there is a data breach in your company and confidential information gets out, you could be sued for thousands and thousands of dollars by affected individuals. Your reputation will also be tarnished if you cannot control the situation, potentially severing partnerships with other businesses. Cyber security is arguably more important than actual physical security in these regards. You will want to start considering getting cyber insurance sooner than later.

Limits on our typical cyber small business solution coverage are:

  • $100,000 in an annual maximum aggregate.
  • $25,000 sublimit on certain claim or forensic investigations.
  • $1,000 deductible can apply to each claim.

You may not be eligible for our cyber small business solution program if you have more than 50 full-time employees and earn more than $20 million in annual gross sales. Ineligibility may also extend to many companies that deal with currency or monetary exchanges, such as banks, credit unions, gambling groups, and so on. Other restrictions do apply so be certain to call our insurance administration professionals at 888.451.0883 if you have any questions.

Our cyber liability insurance is officially underwritten by American International Group, Inc. (AIG), its subsidiaries, and its affiliates. AIG is a highly-reputable company that has achieved an “A” rating for quality and customer service by AM Best.

Credit Card Vulnerability in the Modern World

There have been numerous stories circulating throughout the news in recent years about credit card vulnerability. Magnetic strips can be “hacked” when the card is swiped, which led to the introduction to data chips being inserted into new credit cards. Soon after the chips were introduced, hackers already found a way to access that information, sometimes through remote applications. If your small business accepts credit cards from patrons, you must be aware of all the ways the data can be compromised without your knowledge. Cyber small business solution insurance programs offers you the peace of mind in knowing that you are covered in case someone tries to illegally access your client and customers credit card information.

Contact Our Professional Insurance Administrators Today

There is much to know about cyber insurance and your options as a small business that needs to gain insurance-based protection from liability. If you have more questions, we encourage you to click here to be taken to our secondary site, where you can learn even more. You can also contact us online or call 888.451.0883 at any time.

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