Boardwalk Insurance offers comprehensive Security and Privacy Coverage

Oct. 4, 2012 - PRLog -- Ensuring cyber security is often more complicated than just simply installing anti-virus software on all computers.  Threats to cyber security include not only viruses and malware, but also data thieves, and even human error can potentially compromise sensitive information.  Boardwalk Insurance Group can now write information security insurance, privacy liability insurance, and data breach insurance that will protect businesses from damages in the event sensitive information is either leaked or stolen from the business.

For any business that handles sensitive customer or employee information over the internet, comprehensive cyber liability insurance is an important line of insurance to carry.  There have been a handful of high profile cyber security breaches and numerous less publicized breaches that have exposed sensitive employee and customer information to unauthorized people.  In the event that information is accidentally sent to an unintended recipient, cyber liability insurance protects that business from any potential damages that might result.

Coverage
3rd party coverage
1.Covers liability arising out of unauthorized access to confidential 3rd party data, such as:
a)Personally Identifiable Information (PII): ex) Name, email address, SSN
b)Protected Health Information (PHI): ex) Patient medical records
c)Financial Account Information: ex)Credit card data, bank account, PIN information
d)Corporate Confidential Information: 3rd party trade secrets
2.Unauthorized Access including theft or loss of paper records
3.Provides defense and damages on insured's behalf, including defense of privacy breach investigations by governmental authorities and includes the portion of privacy regulatory settlements or judgments used to fund the payment of patient or consumer claims

1st party coverage
1.Costs to restore insured's own data
2.Theft of money and securities through unauthorized access
3.Extra expenses while recovering from the breach

Electronic Media Coverage
Covers web content which is alleged to include:
Libel, slander, other defamation
Accidental public posting of private information
Copyright, trademark infringement
Supplementary payments in addition to the limit of liability for breach    mitigation costs and reward reimbursement
Forensic/incident response services from Fishnet Security as part of our claim handling process

Highlights
1.Broad policy form for third party liabilities arising from an unauthorized access
2.Supplementary Payments coverage available for public relations expense, voluntary credit monitoring, and compliance with notification laws
3.Optional coverages for first party costs to recover from a breach and for electronic media liability
4.Responds to liability for identity theft, invasion of privacy or HIPAA /    HITECH violation, failure to protect confidential data, transmission of    spyware, viruses and other malicious code, use of network to harm a    third party
5.Covers laptops, backup tapes, paper records, and other storage media
6.Includes coverage for unauthorized access by an employee
7.Defense of proceedings by privacy regulators at full liability limit
8.Worldwide coverage
9.Optional electronic media coverage
10.Forensic / incident response services

Boardwalk Insurance can write cyber security insurance policies with minimal information.  Through their partner information security insurance providers, only a company name, address, type of business, and number of employees are needed to start creating a cyber security insurance policy.  For more information, please visit: http://www.boardwalkinsurance.com