Information Security & Data Privacy Liability Insurance

Rob Ferrini For more information contact:

Rob Ferrini, Program Manager
RobF@naplia.com | 1-508-656-1327

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Personal information (social security numbers, credit card numbers, bank account numbers, even name and address) has become a leading target of cyber criminals. With your client's personal information in your possession, understanding your exposure and taking the appropriate steps to mitigate your liability is essential.

Information Security / Cyber resources

Information Security Risks: Internal Systems, Vendors and The Cloud
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The need to implement cyber security and other information security controls has become the new business reality. Organizations that are technology and data dependent, regardless of size, must evaluate their risk exposure and formulate an information security program, as well as contemplate their potential breach response. Such a program must address third party service provision, including cloud based service provision if applicable.

Cyber Security Q & A with Eric Hess and Raj Bakhru
How can professionals keep abreast of all the new laws and regulations impacting cyber security? How do they understand their responsibilities?  Read this conversation between NAPLIA's Rob Ferrini, and Attorney Eric Hess and Raj Bakhru surrounding cyber security concerns.

2015 State Security Breach Notification Laws (source: National Conference of State Legislatures) 

Applications & Forms

Information Security & Cyber Liability Applications & Forms

NAPLIA in the News

Boston Business Journal: Cybercrime | As online thievery spreads, so too does demand for insurance

Estimated Premium for Information Security Insurance

The table below provides an estimate for firms based on $1MM of
coverage and a $2,500 deductible. Premiums are indications only and are subject to a fully completed application and underwriter review.

For more information, see our Product Overview

Revenue Estimated Premium
< $1.5MM $1,250
$1.5MM - $2MM $1,500
$2MM - $2.5MM $1,850
$2.5MM - $3MM $2,185
$3MM - $3.5MM $2,475
$3.5MM - $4MM $2,670
$4MM - $5MM $2,990
>$5MM referral

 

Eric Hess, of Hess Legal Counsel, and Raj Bakhru, of Aponix Financial Technologists, join NAPLIA for Cyber Security and the Clouds, to discuss the regulatory environment, implementing an information security program, breach planning, and vendor risk issues and issues particular to cloud services.m> 

Information Security and Privacy Insurance

Information Security and Privacy Insurance provides a variety of industry-leading coverages for emerging data security and privacy exposures facing companies today.

Information Security & Privacy Liability

- Legal liability coverage for theft, loss, or unauthorized disclosure of personally identifiable non-public information or third party corporate information that is in the care, custody or control of the insured organization, or an independent contractor that is holding, processing or transferring such information on behalf of the insured
- Legal liability arising from failure to comply with state breach notice laws
- Coverage for failure to comply with the insured's privacy policies as well as failure to administer an identity theft prevention program required by governmental regulation
- For unauthorized access, theft of or destruction of data, denial of service attacks and virus transmission involving the insured's computer systems resulting from computer security breaches

Privacy Notification Costs

- Coverage for the costs to provide notification in compliance with a breach notice law, including fees charged by an attorney to determine the applicability of and actions necessary to comply with breach notice laws -
- Includes the cost of a credit file monitoring program (subject to 20% co-insurance)
- Coverage for the costs to hire a computer security expert to determine the existence and cause of a security breach

Regulatory Defense and Penalties

- Coverage for the cost to defend a regulatory proceeding resulting from violations of privacy laws caused by the otherwise covered theft, loss, or unauthorized disclosure of personally identifiable non-public or third party corporate information

Website Content Media Liability

- Covers display of electronic content on the insured's website. Offline media coverage may also be available