Threats that used to spring up only in fiction and on movie screens are now real-life high-level security breaches happening across the country and within well-known, big-name companies. What cyber threats should you be aware of? What legal requirements and risk management strategies can you implement?
Iowa-Polk County computers fell victim to a malicious code by a CryptoLocker (trojan virus) Friday the 13th, May 2016, infecting 20% of the county’s servers ultimately forcing the remaining servers to be shut down by IT staff to stop the virus from spreading.
Not without separate privacy breach or breach response insurance also referred to as Cyber Liability Insurance. So, what does business insurance cover then? The foundation of business insurance is General Liability Coverage. General Liability insurance compensates you for attorneys’ fees, court costs, and settlements or judgments up to your limit of liability.
None of the information provided in the website is a guarantee that insurance will be provided or that the agency is obligated to procure insurance for the website visitor. Misstatements or omissions of relevant information by the applicant can lead to price variation or even declination or rescission of coverage. Brokers can make your life easier in buying an insurance policy that best suits your needs, but working with a broker is not a substitute for your independent review of the policy being considered. In the end, the decision to buy or not buy one policy over another is the buyers decision.