Why Cyber Security?

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• Electronic data and credit card information can be compromised due to malware, phishing, spear phishing, data loss and data theft

• The risk of cyber liability is real for ALL enterprises whether large or small

• When personal customer or financial information is lost, companies face substantial risk of class actions

• Losses for network or hardware damage may be See more +

• Electronic data and credit card information can be compromised due to malware, phishing, spear phishing, data loss and data theft

• The risk of cyber liability is real for ALL enterprises whether large or small

• When personal customer or financial information is lost, companies face substantial risk of class actions

• Losses for network or hardware damage may be covered as a property claim under traditional commercial general liability policies (CGL)

• But courts have disagreed whether losses suffered by third parties, such as customers, are covered by CGL policies

• Insurers are increasingly writing policies that expressly EXCLUDE claims for cyberliablity from CGL policies

• Specialized Cybersecurity policies can provide the coverage needed for the unique risks posed by cybersecurity threats from hacking to data theft

• Risk can be mitigated for business through appropriate training and a strong IT staff

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