CYBER LIABILITY - Rodrian Insurance

Keep your business cyber-protected.

Cyber Liability Insurance: Protection for When, Not If

Cyber criminals are continually ramping up their game to get their hands on confidential data. Ransomware is just among the latest tactics they use, holding a business’s network system hostage for money. Phishing tactics and social engineering are also used to trick employees into erroneously wire transferring money. Add to these exposures, the uptick in remote work and subsequent added vulnerabilities, and you have a cyber landscape that is quite complex for today’s businesses.

The bottom line: If your company transacts business, markets or communicates online or you store the personal or proprietary data of others on a computer system, you have cyber liability risks. Rodrian Insurance offers businesses across diverse industry sectors cost-effective, customized Cyber Liability solutions that respond to ever-evolving situations that can potentially compromise a company’s customer, patient and employee data, shut down an operation by infecting its network system, and harm a firm’s reputation.

What’s Covered under a Cyber Policy

Cyber Liability insurance can be designed to cover the costs that come with a breach, such as the need for a forensic analysis of your data and systems, notification to all affected parties, credit monitoring, crisis management and PR, business interruption as a result of the breach, regulatory investigation and fines and penalties, and legal defense and liability should you be sued by a third party. A policy can also be designed to include ransomware and social engineering, too.

Just as with any policy, it’s important to understand how the coverage works and what you are purchasing. Our staff will look at several factors with you:

Does the insurance company provide a Breach Response team and coach to guide you on what to do?
Will you have a forensics team at your disposal to ascertain the cause and extent of the breach?
How are penalties, fines, and assessments defined and covered?
What are the sub-limits, if any, under policy for first-party expenses (e.g. client notification, forensics)?
Is business interruption coverage included and what is the extent of the coverage provided?
Is cyber extortion, ransomware, and funds transfer fraud covered under the policy?

We will review your exposures and determine the right policy for your organization.