Cyber Liability Insurance with the Byrnes Agency
Protect Against Data Breaches, Network Security Risks
Few innovations have transformed the way businesses sell and service their customers like computer technology. But along with technological advances, we’ve experienced heightened and new exposures, such as identity theft and data breaches.
And while data breaches at large companies continue to make headlines, breaches involving smaller businesses are also on the rise. In fact, according to industry statistics, 90% of breaches impact small businesses. Among the hardest hit industry sectors are healthcare, retail, food & beverage and hospitality.
At the Byrnes Agency, we sit down with our clients throughout the Connecticut area to evaluate how great their exposures are to cyber risk and how best to protect and reduce these exposures. Whether you’re a retail operation, restaurant, a hotel/motel, a non-profit, municipality, etc., or provide a professional service, you need to evaluate your liability exposures to cyber threats. No business or operation that uses a computer to conduct transactions and store information on their network or in the cloud is immune from the dangers of data breach, identity fraud, missing or lost tapes, and all types of threats to corporate security.
Coverage with Cyber Liability Insurance
We can tailor Cyber insurance to provide coverage for the following, depending on your specific industry and operation’s exposures.
- Forensic investigation costs to determine the extent of the breach and how the breach occurred.
- Legal advice to determine your notification and regulatory obligations.
- Breach communication notification costs.
- Expenses of offering credit monitoring to customers as a result.
- Public relations expenses.
- Loss of profits and extra expense during the time that your network is down (business interruption).
- Legal defense and settlements, damages and judgments related to the breach.
- Regulatory fines and penalties.