Consolidated Partners, Ltd.

BUSINESS and PERSONAL INSURANCE

DATA BREACH LIABILITY

WHY DATA BREACH COVERAGE IS IMPORTANT

The number of data breach incidents is on the rise, and the regulatory requirements that need to be satisfied when a breach occurs can be significant.  Any business that handles or stores any private business, customer and patient or employee data is at risk.  When a breach occurs, trust is violated, putting important client and customer relationships in jeopardy.  Small business owners need to quickly restore their customers' trust and business' reputation.

HOW A BREACH CAN OCCUR

Contrary to what you may have heard, a hacker from continents away is not the only threat to your customers' sensitive data.  A simple mistake is often (1 in 3 incidents) the culprit.

  • A flash drive with client's social security numbers is misplaced.
  • A box of files with sensitive customer information isn't shredded, leaving it vulnerable to ID thieves.
  • A laptop with customers' personal information is stolen from the backseat of your car.
  • A tablet that stores client's credit card numbers is left on a restaurant chair and never recovered.
  • Employee error or oversight

Depending on the nature of your business and clients or customers, you may need more or less coverage.  Consolidated Partners offers through The Hartford coverage flexibility to provide 1st Party Response Expense and 3rd Party Defense and Liability coverage.  The policy offering includes pre and post-breach services to help minimize the occurrence of a data breach.  Coverage is available as an endorsement to the Business Owners policy. 

Before a glitch turns into a liability, contact Mark Flodin at 847-233-9234.

 

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