You can’t afford NOT to have Cyber Liability Insurance!In an effort to provide coverage solutions to address the emerging exposures that you face in your business, CITA Insurance Services has developed a Cyber Liability Insurance program with you in mind. As you know, Cyber Liability Insurance is quickly becoming a necessity as agencies depend more and more on the storage of electronic data and online connections to increase office efficiency. The storage of client and employee information such as: social security numbers, credit card or bank information – even in paper form – places your agency at great financial risk. If unintended parties gain access to this information whether illegally or by an inadvertent mistake, you likely will be liable (even if this information was accessed through a third-party’s site).
IT World suggests that the average cost per lost or breached record is approximately $200. Multiply that by a moderate amount of records and factor in the potential cost of third-party litigation (by affected clients, employees or vendors) and you could be facing tens of thousands of dollars of out of pocket expenses.
For more information, please contact us at: 888-813-9295