Cyber

Today’s criminals use technology to gather riches from vunerable corporations and individuals.

This fast-growing coverage is designed to address the increasingly costly risks involved with the use of computers, the internet, and digital media in modern business.

It’s Not a Matter of If But When…….Every Company Needs Cyber Liability

The new digital technologies can be powerful, but they expose companies to liabilities that didn’t exist just a few years ago: ranging from identity theft to malicious code, hackers, software malfunctions, security holes, network failures, intellectual property infringement, hardware crashes, and similar threats.

More important, these emerging risks and exposures are poorly addressed — or completely excluded — by conventional General Liability and E&O coverages. This can leave a business vulnerable to crippling losses due to lawsuits, regulatory fines, penalties and a litany of crisis expenses (pr, network security, notification and credit monitoring costs).

Any company that relies on IT, computer, and internet technology in the course of doing business should integrate this coverage into its insurance portfolio.

This especially includes companies:

  1. That have web sites which allow visitors to manage accounts, access information, perform tasks, make purchases, download materials, and the like;
  2. That touches customer information such as financial information, credit card numbers, employee information, medical records, purchase histories, and other data (online or offline in non-electronic formats).

PRS can secure specialized Cyber liability coverage that specifically addresses network security and privacy perils under a single policy. We are particularly experienced in understanding the nature of the risks for a given business, and finding coverage that matches the need closely — and avoiding needless gaps in coverage.