If cybercriminals gain access to cyber coverage details, it can shift the balance of power in their favor, making ransom demands more calculated, negotiations more difficult and outcomes more costly.
The policy includes both first- and third-party coverage to help respond to cyber events, such as data breaches, ransomware attacks, cybercrime, compromised business email accounts and more.
Strong security measures and client awareness are critical to maintaining trust and safeguarding assets.
Lawsuits over how businesses collect and use data have surged, driven largely by aggressive plaintiff’s attorneys leveraging decades-old privacy laws in modern contexts.
As threat actors continually become more proficient in their ability to access company’s systems, there are steps all businesses can take to improve their security.
Although the NYDFS Cyber Regulations may not apply directly to your business, independent insurance agencies operating in other jurisdictions could still see impacts.
Businesses of all sizes throughout the U.S. continue to face challenges from the evolving nature of cyber risks.
While there’s no way to guarantee your agency will never be susceptible to an attack on your systems or data, there are steps you can take to understand and increase the security of your client data.
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While D&O and cyber liability policies offer distinct coverage differences, many companies mistakenly believe they do not require separate policies.
