At SEI we are experts at helping our clients find the right cyber liability insurance program to complement their needs at present and as their businesses grow and their data stores broaden. Our risk-management experts will help you understand the full extent of your exposures, your internet security risks, and just how to construct a customized program to insure against security breaches.
We bring expert risk prevention guidance and planning from the underwriting side to help mitigate your company’s unique vulnerabilities and shape cyber insurance coverage that not only meets your present needs but also evolves along with your exposures.
Our cyber insurance and risk management experts bring added value to your cyber security discussions and a deeper understanding of the potential costs of a cyber event in terms of:
- Devaluation of trade name
- Loss of intellectual property
- Customer breach notifications
- Post breach credit monitoring
- Regulatory fines (PCI Compliance)
- PR crisis
- Updates to IT infrastructure
- Operations disruption or destruction
- Value of lost contract revenue
- Legal fees & more.
Some of our cyber insurance programs include:
Network Security & Privacy Liability
Business relies on the Internet for everything from e-commerce to data storage, to medical records sharing and information delivery. That’s the good news! The bad news is that there are evil forces at work whose full-time job it is to expose your business to risks related to network damage, cyberattacks, theft of intellectual property and other corporate information, as well as sensitive customer information.
When that happens your business can be exposed to claims against it for the unauthorized release of everything from trade secrets to personally identifiable information. Network Security and Privacy Liability insurance coverage help offset costs related to notifying customers and providing credit monitoring, as well as forensics, legal expenses, and government privacy regulations.
Data Breach Liability
Data breach liability coverage provides insurance protection when a security breach results in identity theft. It can also include damage to the network resulting from the theft of data (including trade secrets), as well as the spread of infection to others’ networks via viruses, worms, etc.
Data Breach Expense
A successful malicious attack against your networks can cost you in many ways. These include notifying customers that their personal or financial information has been accessed, and providing credit monitoring to affected customers. Be advised that these costs quickly add up and you need to have adequate insurance coverage to protect your business.
Security Breach Liability
Security Breach Liability coverage helps protect your business in the event of claims or penalties related to an attack on your computer hardware/software which transmits malicious code to other networks, manipulates your data stores, or allows service disruptions such as denial of service attacks.
PCI Fines & Penalties
Payment Card Industry (PCI) fines and penalties coverage is enacted when your company suffers a data breach. PCI fines and penalties are charged by credit card companies such as Visa, Mastercard, Discover, etc. and are assessed to the merchant’s acquiring banks for violation of their industry rules and regulations.
Is your business protected from cyber attacks?
A malicious attack on your company’s computer information systems, infrastructure, computer networks and/or personal computer devices presents a multi-level challenge to your enterprise at all times.
We’re Ready to Help
To schedule an appointment with a cyber insurance expert, call SEI New York at 877.237.2481 or fill out our contact form here.