What can happen if a business is attacked by a cyber-criminal?
A cyber-attack involves criminals going after data. The cyber-criminal can infiltrate networks, holding data hostage, or can access sensitive information such as credit card numbers, passwords, addresses, and Social Security Numbers.
As the result of an attack, businesses must face the federal and state laws that have been enacted to protect consumers and employees. A business also could face fines if a breach occurs and they have not taken the necessary protective steps.
In addition, many businesses must provide free credit monitoring services to those affected for a specified period of time, and the business may face additional costs to update security software and train personnel.
Not to mention, a business’s good reputation may be lost forever.
What can I do to protect my business?
Merchants’ Cyber Liability Coverage is a wide-ranging and affordable coverage option designed to protect businesses from some of the most common security problems encountered with online and computer-related technology.
Having this coverage is a key risk management strategy that can offer protection and peace of mind, with comprehensive data security and privacy coverages that address a variety of claims. Cyber Liability coverage may be added as an optional coverage to many business policies, from small retail businesses to offices and contractors.
With Cyber Liability coverage, you get:
- Expert “Breach Coach” and legal counsel services
- Breach notification
- IT security and forensic experts to help
- Public relations/advertising support
- Call center and website support
- Credit monitoring and identity theft restoration services
All Merchants’ Cyber Liability policyholders also have access to CyberNET®, an online resource offering advice from expert cyber risk advisors, in addition to 24/7 online training courses, safety tips, sample data security and personnel policies, vendor agreement templates and more.
Talk to your independent insurance agent today to see how Merchants can help!
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* Cyber Liability Coverage is not available in Vermont.