LMA Tip-of-the-Day: cyber liability insurance...

 

Do you need cyber liability insurance?

If you're hacked, the cost of a breach -- to notify customers and offer them credit monitoring, restore data, resume business -- can be high (Ponemon Institute estimates the cost at $214 per compromised record).

Take a look at stand-alone policies, such as AIG's netAdvantage, or Chubb's SafetyNet.

You may also be able to add coverage to your existing policy (e.g., Hartford's CyberFlex option costs from 2% to 5% to your regular premium).

Posted via email from LMALLC's Blog By SocialNetGate