Cyber Insurance

Protect your organization against the cost of claims caused by a virus or ransomware infiltrating your IT systems.

FACT: Average total consolidated cost of a data breach: $4 million.
(2016 Cost of Data Breach Study, Ponemon Institute)

Protect your organization against the cost of claims caused by a breach of confidential information on your IT network.

FACT: Half a billion identities were exposed in 2015.
(Symantec ISTR, Apr 2016)

Protect your organization against the cost of penalties arising from violations of privacy law caused by a breach of your IT systems.

FACT: Due to the high cost of regulatory defense and penalties within the health care industry, the average cost of a lost or stolen record is $355 per record — 125 percent more than the national average for other industries.
(2016 Cost of Data Breach Study, Ponemon Institute)

Protect your organization against the cost of claims from trademark or copyright infringement if your digital content is found to have infringed on another’s rights.

FACT: Settlements of media liability claims can run into the millions of dollars.
(Advisen Insurance Intelligence, Electronic Media Liability 2014)

Protect your organization against the cost of cyber extortion demands, recovering from malicious code and ransomware attacks.

FACT: A U.S. business is victim to a ransomware attack every 40 seconds.
(Kaspersky Security Bulletin 2016)

Protect your organization against loss of income and the cost of recovering from an interruption to your IT network.

FACT: For small- to mid-size businesses, resulting downtime costs from a ransomware attack are more than $8,500 per hour.
(Datto, 2016 Global Ransomware Report)

Protect your organization against the costs of retaining crisis management services, outside counsel or forensic investigators when recovering from a security breach.

FACT: Ransomware causes small- and medium-sized businesses $75 billion annually.
(Datto, 2016 Global Ransomware Report)

Protect your organization against the costs associated with restoring, recreating or recollecting your data assets and other intangible assets lost in a security breach.

FACT: The average cost of a lost or stolen record: $158 per record.
(2016 Cost of Data Breach Study, Ponemon Institute)

In the wake of a security breach, protect your organization against the costs and associated business disruptions with professional response planning.

FACT: Having an incident response team reduced the cost of data breach by $16 per record, from $158 to $142 per record in 2016.
(2016 Cost of Data Breach Study, Ponemon Institute)

Educate your executives on their duty of care to the organization, employees and stakeholders with training in the design and implementation of a cyber crime prevention and recovery plan.

FACT: Nearly 70 percent of ransomware attacks impacted mid-level managers or higher, with 25 percent of incidents targeting senior executives and the C-Suite.
(Malewarebytes, Osterman Research Survey Report, August 2016)