DATA BREACH RESOURCES: A Tool That Keeps on Giving
Posted by Tech Insurance Solutions on
As cyber breach risks continue to increase, more and more businesses are concerned about their cyber liability exposure. Often, they know they need cyber liability insurance, but lack guidance on what should be covered or on how much coverage may be needed. Surely, a doctor’s office is going to have a much different exposure risk than a furniture store, and so on.
Where can we start?
This is a fantastic tool to help businesses to examine and ascertain the potential risk that they have and what it could ultimately cost them with a data breach. The calculator allows a business owner to generate a hypothetical scenario and estimates a data breach cost on the type of information lost, such as PII (Personally Identifiable Information), PCI (Payment Card Information or Industry), and PHI (Protected Health Information).
It’s truly an eye-opening experience using this calculator as it helps you to see cost related to:
Class Action Lawsuits
Customer Notification/Crisis Management
All from inputting a bit of information about your business and the extenuating circumstances that may impact such a breach. This nifty tool can begin the conversation of how much coverage truly might be needed under your cyber liability insurance policy.
We’re proud to say that our carriers offer the full version of this calculator as well as many other helpful tools and resources provided by eRiskHub as a bonus to our policyholders. Tech Insurance Solutions is dedicated to helping businesses with Cyber Liability Insurance and other business insurance needs.
Call (678) 822-0149 to receive the guidance you deserve to protect the things that matter most.