CALL US TODAY | (800) 460-6424
Real Estate
Lawyers
Cyber Liability
Commercial Crime
Master Policy Programs

image of man at computer workingIf you work in data insurance, you know that this is a fluid environment. The world of cybersecurity is constantly changing.

As technology changes, the threats to cybersecurity also change. Each day, a new cyber threat emerges. The cybersecurity industry always has to adapt to the risk of new cybersecurity threats.

Cyber insurance agents have a duty to provide correct information to prospective clients. You need to have an understanding of some of the common cybersecurity threats. With this information, you can better explain different data security insurance options to clients.

Understand Common Security Risks

Inform your insurance clients of all potential risks associated with data breaches. You can explain to them what risks they face before telling them what insurance is best for them.

Common cyber threats include:

  • Phishing: This occurs when a business gets a request from an online predator posing as a reputable source. The predator may ask for tax documents, social security numbers or other sensitive information.
  • Malware: This all-encompassing term can include things like viruses, worms and Trojans. These programs attach themselves to valuable files and allow predators to access the information.
  • Rogue Software: Malicious software masquerades as an update to your computer.
  • Malvertising: Sometimes, malicious software masquerades as advertising on a web page. The attacker lets you click on the ad before putting malicious software on the computer.
  • Drive-by-Downloads: Sometimes, simply visiting a site may cause malicious software to download to your computer.
  • Denial-of-Service Attacks: A hacker may try to overload a system. This could cause it to crash and compromise data safety.

Explain Data Protection Insurance

The first thing to do is explain to clients that it is always their responsibility to protect their data. Encourage them to research data threats and be vigilant when working on business networks.

Then, tell them how data breach insurance can help them. Data breach insurance can often cover many of the following resolutions:

  • Court costs
  • Settlements
  • Customer notifications
  • Anti-fraud protection for victims
  • Crisis management and security expert repairs

But, make sure you explain to clients the scenarios covered by their plans. If an attack occurs that is not covered, you may have to deny a client a claim. Individual plans also may not include every possible resolution coverage.

U.S. E&O Brokers can help you choose the data breach insurance that you will offer your clients. If you want to learn more about data breach insurance, give us a call today at (800) 460-6424.

Posted 6:58 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
LinkedIn
Google+
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
  • Carrier
© Copyright. All rights reserved.
Powered by Insurance Website Builder