Target Professional Programs is announcing a new Cyber and Privacy program to complement their overall professional liability portfolio of insurance coverages.
With the every-changing landscape of online technology and its usage, the need for Cyber and Privacy Liability is more prevalent than ever. If you have a business online, you may already be aware of the risks from hackers and the need to keep data secure. Today, identity theft runs rampant, and hacking is commonplace, leaving companies scrambling to protect their customers and themselves from these online threats. Your reputation means everything. If you cannot keep your customers’ data safe, your customers will not trust you. Not to mention the cost involved to recover from a cyber-attack that will add additional cost to your bottom-line.
Download
Firms with annual revenues up to $20 million –higher revenues can be considered. Targeted Classes include but are not limited to:
Cyber Liability encompasses several different first and third party coverages for security and privacy liability. The first party coverages provide coverage for company’s electronic data and resultant loss of business income from a breach of the company’s computer systems or network.
Third party coverages provide coverage for alleged violations of third party’s privacy through the disclosure or risk of disclosure of personal information, including violations of privacy regulations. Additional coverages are provided for notification costs and related expenses, such as providing credit monitoring services. Coverage is excluded for losses that arise out of failure to provide professional services.
E&O/Professional Liability coverage provides coverage for financial damages caused by a company’s errors or omissions in providing professional services.