Illinois Cyber Insurance
Protect Your Business With Cyber Liability Insurance In Illinois
Cyber crime is the nation’s fastest-proliferating criminal threat. Information breach and identity theft are among the most commonly reported cyber crimes. While you may think that high profile businesses are most at risk, the reality is that businesses both big and small are vulnerable to attack, and can benefit greatly from the protection provided by Cyber Insurance. Whether your data has been compromised by a virus, hacker, or is simply the product of a lost or stolen mobile storage device, there can be serious consequences for data breach.
Frimark Keller & Associates is proud to announce our specialty Illinois Cyber Liability Insurance which has been developed for these electronic risks; it offers both first and third party coverage. From Schaumburg to Park Ridge and beyond, we want to help protect your Illinois business from cyber crime.
Cyber Risk Insurance In Illinois, From Frimark Keller & Associates
Did you know that the state of Illinois requires all data collectors to provide a notification of security breach to each of its affected customers following the discovery of a breach? Research on Cyber Coverage done by the Ponemon Institute in 2011 estimates the cost to a company is approximately $200 per compromised record.
Think your business is safe? Think again. 90% of all companies have reported a breach within the past year. Cliché though it may be, we in the insurance industry think only in terms of not if, but when. The costs of remedying a breach can be substantial. Beyond the price of an initial forensic investigation, there lies the potential for litigation and possible fines levied against your business. The Illinois Cyber Risk Insurance specialists at Frimar Keller & Associates offer the protection of ten comprehensive coverage options to fit your needs.
Cyber Insurance In Illinois – Agreements
Maybe you’re thinking that ten options are a little too robust for you. No need to worry, our coverage is scalable to fit your company’s needs.
Illinois Cyber Liability Insurance Agreements
- Network and information security liability – Help for defending your company from third party claims stemming from data breach
- Communications and media liability – Provides coverage for claims resulting from copyright infringement, defamation, libel, and slander in electronic content
- Regulatory defense expense – Reimburses expenses incurred in responding to a governmental claim stemming from a data breach
First Party Insuring Agreements
- Crisis management event expense – Reimburses expenses for public relations services
- Security breach remediation and notification expense – Breach response that includes:
- Assistance in finding and fixing the breach
- Determination of the number of potentially affected clients
- Creation and mailing of notification to said individuals
- Credit-monitoring service and a call center for those affected by the breach
- Computer Program and Electronic Data Restoration Expenses – Reimburses the cost of getting your business back up and running
- Computer Fraud – Coverage for damages caused by unauthorized entry of data into your computer system
- Funds Transfer Fraud – Provides coverage for unauthorized transfers
- E-Commerce Extortion – Coverage for money paid due to threats
- Business interruption and additional expense – Coverage for a loss of income and additional expenses incurred to restore operations
Residents are welcome to contact the Illinois Cyber Risk Insurance specialists from Frimar Keller & Associates at any time. Don’t let cyber crime happen to you!