What are the Odds?*
Struck by Lightning
1 in 960,000
Be In a Car Accident
1 in 336
Experience a Data Breach
1 in 4
The Problem
Many think that small to medium-sized enterprises (SMEs) aren’t at risk for cyber attack. On the contrary, the landscape for attackers is huge. It is imperative that companies of all sizes have some kind of protection to avoid becoming the target of an attack.
It is estimated that an individual’s health record is worth 10 to 20 times more on the black market than a credit card number. Why? Health records contain names, birthdates, diagnoses, and billing information. All of these things can be used as a foundation for identity theft.
The Solution
Cyber liability coverage is typically not included in Professional or General Liability Insurance policies. CyberProGuard® by CM&F can be purchased separately, and is designed specifically for small to medium sized healthcare groups or practices.
Cyber Attack Fast Facts
79% of breaches hit entities with <$1 Billion in revenue (Baker Hostetler)
$1.56 Million is the average US post-breach response cost (IBM)
19% of organizations took a day or more to recover from a breach
43% of SMEs identified cyber breaches or attacks within the last 12 months (Cyber Security Breaches survey 2017)
60% of small businesses go out of business within 6 months of a cyber attack (US National Security Alliance)
Want to discuss your risks? Contact us for more information.
Included in CyberProGuard**:
Security & Privacy Liability
MANAGING THE COST
Key Coverages:
- Maximum limit: $1MM in Coverage
- Full first party costs and third-party security & cyber liability coverage
- Damages & Claims Expenses legally obligated to pay as result of claim
If as a result of a cyber incident, you are investigated by a regulator, sued by a third party or need to restore digital assets, our coverage will cover those claims and expenditures as they occur.
Security Breach Response Coverage
RESPONDING TO THE INCIDENT
Key Coverages:
- Maximum Limit: $1MM in Coverage
- Forensic Investigation Costs
- Legal Fees and Expenses
- Notification Costs to regulatory agencies or customers
- Credit Monitoring Expenses
- Access to Breach Response Panel of Experts
Coverage will reimburse the insured for crisis management costs and breach response costs that the organization incurs in the event of a security breach during the policy period.
Security & Privacy Liability
PROTECTION AGAINST THE FALLOUT
Key Coverages:
- Maximum Limit: $1MM in Coverage
- Cyber-Extortion Payments
- Cyber-Extortion Expenses
Reimbursement for Cyber-Extortion Expenses and Cyber-Extortion Payments that an insured pays directly resulting from a Cyber-Extortion that you receive during the policy period.
** The coverages highlighted above are dependent upon the terms and conditions of the policy
About Our Insurance Company:
Brit Global Specialty is one of the first Lloyds syndicates to offer standalone cyber liability insurance protection. Its award winning cyber team writes coverage globally with clients ranging from Fortune 500 multinationals to small businesses.
CM&F is proud to partner with an underwriting team offering both dynamic and innovative insurance protection for our clients:
- Automated Online Application
- Less than 5 Questions
- 5 Minutes To Fill Out
- Immediate Proof of Coverage
- Fully Staffed Customer Support Center
