Tag Archives: cyber security

Cyber Liability Insurance: Are you Covered in the Event of a Cyber Attack?

What do Kmart, American Express, Target, Home Depot, and eBay, have in common? They are all part of massive data breaches where hackers stole and exposed customer records for monetary gain. The frequency of these cyber-attacks has increased year over year which has put Cyber Liability Insurance in the spotlight.

Odds are that if you’re reading this post, you most likely have a LinkedIn account. In May of this year, hackers stole 167 million (yes, you read that right) accounts from the social media giant. This left Cory Scott, LinkedIn’s Chief Information Security Officer, with a logistical nightmare trying to sort out the mess.

In addition to LinkedIn, Target was unfortunately struck by a similar breach. 40 million credit cards were compromised and 70 million accounts were hacked.

Cyber_Liability_Insurance_Chase_Clarke_Stewart_&_Fontana

Yes these are global brands, but small businesses also see breaches on a consistent basis — really any company that relies upon technology is vulnerable to an attack.

If your business is hacked, having Cyber Liability Insurance can greatly help you through this tough time. In this post, we’ll quickly explain the scope of a cyber policy and how it can help you in the event of a hack.

What Cyber Liability Insurance Covers

Cyber Liability Insurance is a combination of four components:

  • Errors and Omissions
  • Media Liability
  • Network Security
  • Privacy

Errors and Omissions: E&O covers claims arising from errors in the performance of your services. This can include technology services, like software and consulting, or more traditional professional services like lawyers, doctors, architects, and engineers.

Media Liability: These are advertising injury claims such as infringement of intellectual property, copyright/trademark infringement and libel and slander. Coverage here can extend to offline content as well.

Network Security: A failure of network security can lead to many different exposures, including a consumer data breach, destruction of data, virus transmission and cyber extortion. Network security coverage can also apply if you’re holding trade secrets or patent applications for a client, and that information is exposed due to a failure of your security.

Privacy: Privacy doesn’t have to involve a network security failure. It can be a breach of physical records, such as files tossed in a dumpster, or human errors such as a lost laptop, or sending a file full of customer account information to the wrong email address. Companies have also faced liability from returning a photocopier with a hard drive that contained customer tax records.

As the holiday season approaches and online sales increase, we at Chase Clarke Stewart & Fontana, recommend that businesses, large and small, make sure they know if they’re covered in the event of a hack. Fill out the form or give us a call at 1.413.788.4531 to talk to a friendly representative.

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Cyber Security Protection

October is Cyber Security Awareness Month.

Homeowners now need identity fraud coverage. This type of coverage can be added to your homeowners insurance along with your building coverage and personal liability.

Why is this needed?

Have you noticed that if you are struggling with personal cyber securityan app or something on your tablet or smartphone all you have to do is ask the nearest kid, and they can usually help you?

The next generation of young children and teens, won’t know life without the internet or mobile devices.

In most homes “WiFi” is the new “landline.”  With all these changes comes new risks. Using “WiFi” can put your personal information in the hands of hackers.

Did you know? Insurance companies now offer coverages to help you pay for expenses incurred by an insured as a direct result of any one identity fraud.*

Expenses that result may include:

  • Lost income.
  • Attorney fees incurred to defend lawsuits brought against you.
  • Long distance telephone charges.
  • Certified mail.

Personal Risk coverages can be added to your current home or auto policies.

To learn more about personal cyber security coverages that are available, call your local insurance agent.  We are standing by to answer your questions.

*Each company has unique coverages, please refer to the form for specific coverages and exclusions.

 

Data Privacy Day 2015

Did you know that today is actually ‘Data Privacy Day’?

Mark today, January 28, 2015 on your calendars, as Data Privacy Day!  Something to think about on this day… Are you protecting your personal or business information? Take a minute on this Data Privacy Day and make sure you are data-safe.

Cyber Security Tips

  • Do not give out private information.cyber security; data privacy day
  • Check your monthly statements for irregularities no matter how small.
  • Be aware of email scams.  When in doubt throw it out.  Banks and other financial institutions will not ask for certain information through email.  Contact your bank before replying to questionable emails.
  • Make sure your mobile, personal or work, phone is using the lock screen function.  So much information is on our smartphone…we can’t afford not to protect it.

When was the last time you changed your password?

The most common passwords are;

  1. 12345
  2. Password

Please don’t use these.  Set strong passwords.

 

 

Happy Data Privacy Day!

Online Safety in the Workplace

Online Safety, why should you teach your employees about it?

Online safety is very important. So important that October has is being called Cyber Security Awareness Month. Why?  We spend a lot of time online.  

online safetyFor example, when was the last time you used a phone book?  Most of the time, it’s just easier to “google it.”  This is also true when paying bills or shopping, most of that is now done online.  This is great, but also creates new threats.  Keeping your information safe is especially important at work.

 

Online Safety Tips from Homeland Security… for the workplace.

  • Knowledge is power- Teach your employees to be cyber smart.  Set up office rules on passwords and dealing with client information.
  • Keep office computers up to date with security software.
  • Firewalls are your business best friend.
  • Back up information using a cloud or other means.
  • Read More

Protect your business from cyber security threats.  Talk to your employees on a regular basis about online safety.

 

 Protect your business from further problems with cyber liability coverage.

As your local agent today.  Have a safe October.

Read more about cyber security here.

Cyber Security Awareness Month

 Did you know that October 2014 has been called National Cyber Security Awareness Month??

Yes Cyber Security is so serious that it deserves its own month.  That is why the Department of Homeland Security is raising awareness for cyber security.  Are you cyber safe? Now is the time to learn how you can be.

Knowledge is power so all are encouraged to be educated about Cyber security threats.  All ages can benefit from this.  Gear up for national cyber security month.
cyber securityIf you would like more information, click here.

 

Simple things can make the biggest difference.  Stay safe year round by doing the following:

  • Set Strong passwords, and keep them to yourself.
  • Keep software on computers, smartphones and other devices updated.
  • Remember: Thoughts + Discussions =Your actions, so keep talking to friends and family about cyber security.
  • Remember privacy settings are there for a reason, so you can protect personal information.
  • Once its posted its very hard to retract it, think before you post.
  • Be careful when making payments online.
  • Talk with your children about cyber threats.

There are more age specific tips available on the DHS webiste.  Stay cyber safe my friends!

Click for more Cyber Security Tips

Do you have cyber liability coverage for your company?  Ask your local insurance agent about it today…