Technology Could Present Risks to You & Your Business

Today technology is more a part of our lives than ever before.  We take it for granted, we use
it without thinking about it, and we expect it to work all the time.  Technology also exposes
your business to financial losses and lawsuits you might not be aware of!

Data as a Liability and Asset

Data is a liability.  Even if all you do is transact business over the internet and accept payments via the internet, you are at risk.  You are expected to protect personal data against the wrong people from accessing it.  Your customers depend on you to protect it.  The government expects you to protect it too--as described in HIPAA, Sarbanes-Oxley, Hi Tech, Fair Credit Reporting Act and other various state, federal and foreign protection rules.  If your business deals with medical, financial, employee data, personally identifiable information (PII) or protected health information (PHI), this applies to you.  Newly developed, specialized insurance can protect you from financial losses stemming from your liability, remediation/response (breach notice) costs and fines/penalties.  We provide this insurance and well as services to help you respond appropriately when the time comes.
Data is also an asset (not that you'll see it on a balance sheet as such!).  You can purchase it, you can use it to make money, you need it to transact business, perhaps you store it so your customers can access it to operate their businesses.  But what is data worth to your business?  How about the customized software programs that give your business a competitive edge?  If any of these are damaged, how long before you or your customers start losing money?  
New threats to your data are emerging that could prove costly to your business or your customers' business, such as human error, cyber extortion, cyber terrorism, malicious code and employee theft.  You can protect yourself from financial loss to these threats with new types of specialized insurance.  We provide this insurance as well as ways to safeguard against these threats. Cyber Security Liability insurance can address all these exposures and more. 

Errors and Omissions Insurance It's not just for doctors and lawyers anymore!

It's easy to see why an attorney or physician would need more than "normal" business insurance.  They make important decisions, and what they do or don't do could cause serious financial and medical damages.  As technology becomes a larger and more important part of our lives and businesses, those who provide technology products and services are being held to a similar level of scrutiny.   Lawsuits against technology designers and manufacturers, software developers and providers of technology services are growing in frequency and severity.  
Technology Errors and Omissions policies provide and important avenue for protecting your business from lawsuits that "normal" insurance policies won't respond to.  We help you assess your exposures to these types of claims and help you develop ways to minimize your risks.

Social Media Has Its Own Set of Risks, Too

Even FaceBook, Twitter and the like (considered "chat room" exposures) expose you to problems that "normal" policies don't help you with.  Disgruntled and even "happy" customers and employees can post information that damages reputations, exposes internal operations to external scrutiny and can easily lead to legal action.  Why pay to defend yourself if you can mitigate this costly expense with an insurance policy?

What's Your Reputation Worth?

Responding to a data or network breach, a privacy breach, or allegations of a breach can be costly in terms of legal and research costs.  Your customers may lose revenue you could be responsible for.  Your reputation could be at stake.  Certain types of insurance can help you cover these costs and even help you with public relations expenses.

Contact us for a quick evaluation of your business-technology risk today!