Cyber Liability Insurance Is A Perfect Addendum For Your BOP

Laptop with Cyber Security. Bankers Insurance Corporation Cyber liability insurance

Bankers Insurance Group is pleased to announce we now offer cyber liability insurance at a low-cost, with $0 deductible to help protect businesses against cyber threats. Our Comprehensive Commercial Cyber Service will be an option as an addendum to your current or new BOP.

Approximately 60% of all small- or medium-sized companies go out of business within six months of experiencing a data breach. These companies lack the expertise or resources to address the cyber landscape. Our Comprehensive Commercial Cyber Service will include:

  • Assistance with compliance
  • Protection and Planning
  • A breach or Ransom Response Consulting regarding information protocols and best practices
  • Resolution for consumers
  • Access to certified forensic examiners
  • Post-Resolution Education and Ongoing Protocol Review

Cyber awareness is essential, and so is creating a company culture that is proactive instead of reactive. That’s why cyber security training is included in our Comprehensive Commercial Cyber Service. Our program allows a business to deploy the training platform in a variety of ways; giving your team the knowledge needed to help reduce the chances of becoming a victim of cyber crime. The cost of a data breach includes legal expenses, lost customers, reputation management, and more. Unfortunately, actual costs extend beyond the dollars spent to address the incident:

  • 31% of breach notification recipients terminate their relationship with the organization
  • 59% of breached companies were involved in subsequent litigation
  • 33% faced potential regulatory fines
  • 32% experienced a decline in share value

Call your local Bankers agent or dial 800.627.0000 x 4900 for an agency near you or visit https://bigidinfo.com/

It’s still hurricane season: here are a few things you need to know to be prepared.