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Cyber Liability Insurance

from Robert Bell Insurance Brokers

Over the last several years, cyber liability coverage has evolved from just insurance for information technology companies to coverage that nearly every kind of business should have if they don't already. From retailers, banks, contractors, distributors, restaurants and medical offices, many businesses are unaware of the great security technology exposure they face. Recent state laws require companies that have experienced a security breach to notify all customers that could be affected by the breach that their information has been compromised, even if the information hasn't been used. In most cases, the notification also requires an option of one year credit monitoring services and a new card or account number for customer. Costs can be as much as $250 per individual breach.

Most business insurance policies do not cover computer fraud by a third party or the liability arising out of a cyber-attack. The good news is solutions are available. Make sure your crime policy has electronic crime and fraud coverage with appropriate limits. Cyber liability insurance can be added to your insurance program to cover the costs associated with customer notification and recovery of hacked data. If you store data, including private information on computers; use e-mail; generate revenue online; or use your computer to control production, manufacturing, or inventory, your company is at risk!

In short, any business not making an effort to protect personal private information is seriously out of step with the emerging landscape of privacy law.

In addition to advising you on the right business insurance policy, Robert Bell Insurance Brokers provides additional services, such as:

  • Loss Prevention Programs - With our insurance company partners, we can evaluate your business's current conditions and recommend ways to lower property, auto, workers compensation or liability losses. Lower losses will not only lower your business insurance costs, but also increase your productivity by avoiding downtime.
  • Quick Claim Response - When you do have a claim, you need fast and fair service, and as independent agents, we work to make that happen. That's why we only represent companies with excellent records for settling claims fairly and promptly.
  • Competitive Rates - Many of the insurance companies we represent specialize in insuring specific types of businesses or industries, offering special coverage and pricing. To see if your business qualifies for one of these special programs, contact us for more information.

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605 E Alvarado St #200
Fallbrook, California 92028
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