How many records in your client's database?

"Company size does not matter."

Companies of all sizes that have a database of personal, private, employee, supplier or client information have an exposure should they have a breach in security.

Average cost of a data breach is $204 per record according to the Ponemon Institute.

The total average cost of a data breach per company is $6.75 million.

If your client can't afford the loss, then they need to INSURE!

• Minimum Premium $1,000
• Limits up to $5,000,000
• Customized products available with limits up to $25,000,000

Larry Harb Discusses Cyber Security

Coverage Highlights
Companies of all sizes now have an insurance solution specifically designed to address most of these exposures. Coverage Includes:
•Legal liability damages
•Defense Costs
•Regulatory Action Expense
•Notification Costs
•Crisis Management Expense
•Identity theft recovery services for victims

Crisis Management Response
Focus: Businesses nationwide are required by law to respond to any unauthorized release of their clients’ information. Businesses now recognize that damage to their reputations and the loss of customer loyalty after an unauthorized release becomes public could prove costly. The value of an effective and rapid communications program in the face of such a crisis — combined with practical assistance for the victims — cannot be underestimated.

Stolen Identity Liability
Focus: Businesses are understandably concerned with the civil liability they may face as a result of identity theft based on the unauthorized release of client information. Several lawsuits already have been filed and it is possible that future settlements of these or other lawsuits will make headlines and adversely affect corporate balance sheets.

Administrative Expenses
Focus: In an increasingly regulated business environment, any corporate entity that has experienced an unauthorized release of client information may face administrative actions brought by various regulatory bodies, including: the Federal Trade Commission, federal banking agencies and state attorneys’ general.

Protection
Focus: By providing services for identity theft victims, a business demonstrates its commitment to the needs of consumers. This demonstration of good faith has proved to be a valuable asset in retaining customers, maintaining employee satisfaction and preventing costly actions.