A data breach is the unauthorized disclosure of Personally Identifiable Information (PII). PII includes:
In addition to potentially losing a customer's trust and their business's reputation when a data breach occurs, small business owners who lose PII can also be held responsible for the consequences of the loss. Over 44 states have regulations mandating appropriate action and time frames for notification to effected parties in the event of a data breach.
Federal regulations may also apply. For example, healthcare providers must comply with the Health Insurance Portability and Accountability Act (HIPAA), and financial institutions must comply with the Gramm-Leach-Bliley Act (GLB) requirements surrounding data security and privacy. Lack of compliance with state and federal regulations can result in severe penalties.
This coverage is designed to pay for the expenses that an insured incurs when a breach occurs and is triggered upon the discovery of the data breach. Coverage includes:
This coverage provides coverage for losses arising from civil awards, settlements, and judgments an insured is legally obligated to pay as the result of a data breach claim. A data breach claim is defined as a written demand for monetary or non-monetary relief based upon a data breach or a civil suit or arbitration against an insured commenced by the filing of a complaint, indictment or similar document, seeking monetary or non-monetary relief based upon the data breach.
Any business that handles or stores private, customer, patient or employee personally identifiable information is at risk. Key industries include:
1687 Merrick Avenue, P.O. Box 704, Merrick, NY 11566
Phone: 516.546.5500
Fax: 516.546.5535
Central Florida
8615 Commodity Circle, Suite 15
Orlando, FL 32819
Phone: 877.546.6474
Phone: 407.720.7998
Fax: 516.546.5535
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