Cyber and privacy

As GDPR Takes Effect, Businesses Could be at Risk for Privacy Liability

Data protection rules are getting an overhaul in Europe, which likely will create a ripple effect that impacts U.S.-based organizations, regardless of whether they have European operations. Starting Friday, May 25, the European General Data Protection Regulation (GDPR) will go into effect to update personal data rules, changing the requirements for organizations collecting and managing…

Facebook Data Mining Triggers Need to Review Cyber and Privacy Liability Insurance

After learning through recent news reports that more than 50 million Facebook users unknowingly had personal data from online profiles shared with a data mining firm, consumers are scrambling to review personal information shared on their own social media accounts. This developing scandal will likely prompt organizations of all sizes to reinvestigate their privacy policies…

The Rise in Mobile Apps & Need for Tech E&O Insurance

Technology firms are beginning to silently carry the small business sector as 62 percent of small businesses already have, or are in the process of building, a mobile application to support their business. Of those businesses, 30 percent have revenue generating mobile applications or apps.1  With approximately two-thirds of the country’s small businesses depending on…

Cyber and Privacy: 10 Tips to Better Prepare Your Clients

145.5 million U.S. consumers were affected – nearly half of the population – after a data breach at Equifax in September.1 With the sudden, dramatic rise of data breaches across the globe, cybersecurity is at the forefront of insurance industry discussions. Nearly all companies today operate with an online component and even the greatest levels of…

Defensive Measures

As cyber espionage and data breach threats escalate, new coverage strategies emerge to protect professionals from cyber vulnerabilities When Yahoo announced a data breach in which at least 500 million accounts were compromised, it was big news, but hardly an isolated incident. That same week, hackers went public first with a picture allegedly of First…

The New Normal in an Online World: Cyber Liability

In the world of cyber insurance, last year’s policy was designed for last year’s threats. But with new, more sophisticated threats emerging all the time, it is imperative to review and reevaluate your clients’ policies on a regular basis. Are your clients among those living dangerously? To minimize potential financial damages address these gaps in coverage with…

4 Trends in Cyber Insurance

Three cyber-attacks occur every minute, equating to approximately 1.5 million attacks annually and growing.1 With this, the need for Cyber and Privacy insurance coverage has been steadily increasing. “Every company that holds or processes some sort of personal information has a cyber exposure,” said Ken Labelle, Professional and Executive Liability Broker, Burns & Wilcox Brokerage….