Cyber Liability Insurance

At American Best Agency 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.

Nearly every business collects information about their customers – names, addresses, credit card information, SSN, etc. That information is stored on a computer system or website that is vulnerable to malicious attack. The repercussions and cost of dealing with a breach are enormous.

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.

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
• Wholesalers
• Office Risks
• Restaurants
• Banks
• Hospitals
• Universities
• And more…

Even when the attempts are unsuccessful, the financial and human resource costs associated with handling cyber liability risks are staggering—precisely why you need a dependable, high-quality Cyber Liability Insurance package.

Typically, at American Best Agency, out Cyber Liability Insurance policies cover such things as:

• Copyright & Trademark Infringement
• Unauthorized access
• Introduction of viruses
• And generally any activities involving business use of the Internet

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. At American Best Agency we take our specialized services one step further by providing intensive coverage for Crisis Management expenses, which allow your company to hire the services of PR or law firms to mitigate potential damage to your professional reputation.

When determining the exact level of Cyber Liability 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. Keep in mind that a typical cyber liability breach takes approximately 14 days to resolve and has an average cost of $17,696 per day. With affordable, competitive rated offered through our trusted carriers, Hartford and CNA, you can secure the effective Cyber Liability Insurance you deserve, starting at as little as $90 per year.

Learn more by browsing some of our top carriers' cyber liability resources:

Hartford CyberChoice®

• CyberChoice 1.0 (small to mid-size companies)
• CyberChoice 2.0 (large company)
• CyberChoice Sample Policy Form

CNA NetProtect®

• NetProtect Essential Primer
• Protecting Client and Customer Data - It's The Law
• Risk Control Bulletin: Red Flag Rules on Identity Theft Protection
• Tips to Help Keep Your Computer Safe
• ABCs of Information Risk
• Are Your Company’s Wireless Networks Putting Your Sensitive Data at Risk?
• Beware Malware
• Phishing: Know Who Sent an Email Before You Act on its Contents
• Privacy and Network Security

Cyber liability exposures are extremely complex—exactly why you need an insurance professional who truly understands this area of commercial business. Contact American Best Agency today for more information and a free Cyber Liability Insurance quote!