Data Breach is becoming a larger issue by the day. No matter what steps are taken to prevent an event, your business is exposed. There are a few components to Data Breach Insurance:
- Data Breach Liability Insurance
- Addresses liabilities to other parties
- May cover Data Breach Fines and regulatory proceedings
- Website Liability
- Breach Rectification Insurance
- Hiring of a coach to help clear the breach
- Forensic Expenses to see the extent of the breach
- Credit Monitoring Services
- Digital Crime Insurance
- Extortion – Encryption that can only become unencrypted with the payment of a Ransom
- Electronic Wiring Fraud
- Deceptive Transfer