At Safeguard Insurance we recognize the unique technology challenges that business owners increasingly face. That’s why we have developed comprehensive Cyber Liability Insurance packages to help combat these threats.
About Cyber Liability Insurance
Nearly every business collects some information about their customers such as names, addresses, credit cards, SSN, etc. Most of the time, that that information is stored on a computer system or website. Every computer system or website is vulnerable to malicious attack. The repercussions and cost of dealing with a data breach can be overwhelming.
Regardless of the size of a given business, many face some sort of faulty computer transaction and on average, at least one computer security breach per year. No business is safe from computer related vandalism and oftentimes these problems generate significant financial losses. Consider the following statistics, provided by the National Cyber Security Alliance:
- 77% of small businesses do not have a written internet security protocol for employees,
- Over 60% have no written policy regarding employee use of social media related to work,
- Nearly 60% of businesses do not provide any internet safety training and do not require multi-factor authentication for network access.
- Only 50% of small business completely wipe old computers before disposing of them,
- Over two-thirds of business owners allow employees to use USB thumb drives to transfer data between work and home.
- 60% of small businesses that face a data breach go out of business within 1 year.
Most security breaches have involved attempts by criminals to acquire sensitive company information, usually concerning their customers or employees—common businesses that are targeted for such theft include:
- Retailers (including online retail),
- Banks & mortgage lenders,
- Law firms,
- Medical offices,
- Service and sales organizations,
- And much more…
What is Covered by Cyber Liability Insurance?
Even when the attempts are unsuccessful, the financial and human resource costs associated with handling cyber liability and data breach risks are staggering—precisely why you need a dependable, high-quality Cyber Liability & Data Breach Insurance package.
At Safeguard Insurance, our Cyber Liability & Data Breach Insurance policies can cover losses such as:
- Copyright & Trademark Infringement
- Unauthorized access
- Customer notification expenses
- 3rd party liability claims
- Introduction of viruses
When determining the exact level of Cyber Liability & Data Breach Insurance coverage you and your business enterprise needs, it’s important to consider the scope of your Internet activities, the range of risks that require coverage and the amount of the coverage deductibles or coinsurance. With the growing popularity and usability of social media, it’s important to also keep tabs on all social media exposures. The social media landscape plays host to many cyber liability risks. In 2013, the median cyber liability claim payout was over $200,000.The benefits of our expert-level coverage don’t stop there. Our broad coverage includes claims regarding failure to prevent unauthorized access, identity theft and transmission of malicious code; in addition to coverage to comply with statutory notification requirements in the event of theft of non-public personal information.
Get a Quote for Nevada Cyber Liability Insurance
At Safeguard Insurance, we work with the top providers of Nevada cyber liability insurance including Travelers, Hartford, Philadephia, USLI and many others. For a no-obligation quote and coverage review, contact Safeguard at 702-638-0022 or complete the short quote request form on this page.