If your sensitive information is compromised in a breach of data security, SWBC's Information Security and Privacy Liability Coverage is available to defend you against financial loss, penalties, and defense costs.
Unfortunately, cyber threats and data loss in the marketplace are very common, often testing even the best-laid plans and data security policies.
Consider these key causes of loss:
- Lost/stolen portable computers or media
- Lost/stolen backup devices
- Computer hacking
- Employee misuse
- Negligent release of data
- Vendor negligence
- Improper disposal of paper documents or computer equipment
Not only can these situations wreak havoc on your ability to keep your data safe and secure, but it can also be expensive to restore security and consumer confidence afterwards.
When you are covered by SWBC’s Information Security and Privacy Liability Coverage, there is peace of mind knowing that your client has the benefit of a pre-determined limit of identity theft protection and recovery if personal data you manage is compromised. The policy also carries protection against lawsuits that may occur as a result.
In addition, SWBC’s Information Security and Privacy Liability Coverage offers the following key features:
- Electronic Media Liability: Covers display of electronic content on your institution’s website
- Financial damages arising from unauthorized disclosure or general corruption of personal data
- Defense costs and damages for regulatory agency investigations or requests associated with control and use of personally identifiable information
- Coverage for regulatory penalties to the extent allowable by law, including the FTC Red Flag guidelines
- Limits available up to $20,000,000
In today’s world, sensitive data is routinely exchanged through several mediums day in and day out. And, unfortunately, just as quickly as you retrieve data from different sources, your informational assets can be compromised in a breach of data security.
If you collect confidential or sensitive information from or for customers or employees, including but not limited to credit card numbers, prescriptions, or financials, Information Security and Privacy Liability Coverage is a business necessity. Whether large or small, any business may be susceptible to a breach of data security, including:
- Financial institutions
- Retail Merchants
- Educational institutions
- Restaurants
- Amusement Parks
- Health Care Facilities
- Pharmaceutical
- Tax Offices