Cyber Liability Coverage

Is Your Company at Risk for Cyber Crime?

Cyber Liability

Many companies depend on technology to conduct their business, ranging from storing information to performing daily business operations. As more companies adopt a “Bring Your Own Device” policy and utilize cloud services, more vulnerable areas are created. Forrester Research noted that 53% of attacks are due to software vulnerabilities. Business interruption and loss of reputation could devastate a company of any size. For many small to midsize companies, the idea that their computer networks are a target for cyber criminals is not considered, but they have the most to lose.

  • In the event of customer data breach, many states require companies to notify their customers. How much would the notification expenses cost you?
  • What if your data was stolen and hackers demand a ransom?
  • How would you handle a denial of service that rendered your system inaccessible and revenue is lost?

Is your Cyber Liability coverage comprehensive?
Typical General Liability policies won't offer protection for these wide-ranging exposures, or existing coverage will be extremely limited. Can your business afford the astronomical legal fees and notification costs in the event of a data breach? Avalon’s Cyber Defense Package may protect your business in these areas.

In addition to Cyber Liability insurance, Avalon also offers the Shield Network Scan. The scan reviews your systems, networks, and applications to find vulnerable areas that could allow hackers to access or manipulate your data or network. It also looks for common oversights such as missing a security patch or using default or common passwords on user and system accounts. This information provides you with an overview of your externally facing threats so that you can proactively mitigate them.

Avalon’s Cyber Defense Package includes insurance for when you're held liable for cyber security threats and a network scan to reduce risk to these threats. Insurance coverage can be provided for e-theft, copyright or trademark infringement, e-vandalism, destruction of data, privacy notification expenses, crisis management and more. These two components should be part of every cyber security strategy.

  Download Cyber Liability Insurance Application
Cyber Liability Insurance Application  PDF
Contact me about Cyber Liability Insurance!