Cyber Liability (Data Breach Liability)
Few tasks are as important to small businesses as keeping electronic and customer data secure. After all, a data breach can not only lead to significant financial damage, but also tarnish your firm's hard-earned reputation.
CNA's cyber liability coverage provides the basic liability coverage necessary for any small business that relies on computer networks to run its operations. Our data breach liability coverage provides cyber coverage when a security breach results in privacy injury; identity theft; network damage resulting in theft of others' information in your care, including trade secrets; and infection of others' networks. It also covers costs to comply with applicable laws requiring you to notify customers or users if a security breach could potentially compromise private information.
- Basic liability coverage necessary for business that relies on computer networks to run its operations
- Privacy injury, identity theft due to security breach
- Theft of information, trade secrets and infection of others' networks due to network damage
- Costs to comply with applicable laws requiring you to notify customers or users if a security breach could potentially compromise private information
Get a free quote now or call 617-734-3237 for expert advice.
Cyber Security Practices for Law Firms
Data breaches for law firms are a significant and growing threat. Law firms suffer data breaches not only from hacker intrusions, but from many other sources. Download CNA’s Professional Counsel guide to learn more about how to implement adequate data security.
Know more about Safe and Secure: Cyber Security Practices for Law Firms
CNA Provides 5 Steps to Strengthen Cyber Risk Management Strategy
Regardless of a size or industry, adequate controls are needed to minimize the risks to exposure. CNA today released Everyone Is a Potential Target for a Cyber Attack: 5 Critical Steps to Protecting Sensitive Data, a blog post by CNA’s David Hallstrom, director of Information Risk Insurance.
Chicago, June 5, 2015 — Regardless of a company’s size or industry, adequate controls are needed to minimize the risks to sensitive data exposure. CNA today released Everyone Is a Potential Target for a Cyber Attack: 5 Critical Steps to Protecting Sensitive Data, a blog post by CNA’s David Hallstrom, director of Information Risk Insurance.
“For every cyber security breach reported in the news, there are scores of incidents that are not covered in the media,” Hallstrom said. “Cyber crime is a problem that is not confined to technology and large companies and there are actions every company can take to manage this risk.”
In the blog, Hallstrom identifies five key steps for businesses to strengthen their cyber risk management strategy:
STEP 1: Perform a risk assessment to identify system vulnerabilities, and understand how your data is managed and secured.
STEP 2: Educate your team by implementing a sound communication and training strategy for everyone who is accountable for managing cyber risks.
STEP 3: Know your vendors and make sure you implement reasonable measures to ensure they have the capacity to protect your sensitive information.
STEP 4: Address portable devices and ensure they are encrypted in the event they are lost or stolen.
STEP 5: Make sure you have proper insurance coverage to address potential security breaches.
“Developing an effective plan to identify possible exposures and measures to minimize risk is vital to the success of any business. The potential consequences of a single data breach can range from sizable monetary penalties, negative publicity, interruption of daily operations and loss of public trust,” Hallstrom added.
CNA entered the cyber liability insurance market in 2001 and is now the sixth largest writer of cyber security insurance worldwide. Whether it’s protecting a company from phishing, becoming exposed to malware or protecting against identity theft, CNA Risk Control professionals have the tools, services and solutions needed to address today’s cyber-related challenges. CNA is one of the first carriers to offer the expertise of insurance professionals who have received the Certified Information Privacy Technologist (CIPT) credential from the International Association of Privacy Professionals (IAPP).
Additional information on resources to manage and reduce cyber risk can be found on www.cna.com
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