Data Compromise Insurance

A data breach can happen to a company even if it has the best technology and operational defenses. Stolen laptops, computer hacks and dishonest employees are common ways data becomes compromised.

 

Laws Mandate Notification of Breach

Most states require prompt notification to individuals affected by a data breach. The state laws establish standards for notification and provide penalties for non-compliance. In addition to the negative impact a data breach can have on a business’ reputation, notifications can be complicated and costly.

Data compromise insurance helps cover costs associated with a data breach.  
Coverages include:
 
  • Legal review of notification obligations
  • Forensic services to determine the scope of a breach
  • Preparation and production of breach notification letters  
  • Toll-free help line and credit monitoring services
  • Case management to restore victims’ identities 

 

This is an abbreviated identification of available coverages.  Please refer to the insurance policies themselves for a complete description of the coverages, limits, terms, conditions, and exclusions.

 

Not all products are available in all states and not all products are available in all multi-peril packages offered by GNY Insurance Companies. Please consult with your GNY affiliated broker for further information.

 

 

 eRisk Hub®  Risk Management Portal

A free service for GNY policyholders

Access to the eRisk Hub® portal is available to policyholders with Data Compromise coverage as part of their insurance program. 

 

 

 

 The portal offers a number of key features, including:     

  • Incident Response Plan Roadmap
  • Online training modules for security best practices
  • Business risk assessments and management tools     
  • Listing of external resources with expertise in data compromise coverage 

 

Click here to learn more and register for eRiskHub.    

 

Contact your GNY affiliated broker to assess your business risk and determine if data compromise insurance is needed.