Practice Risk Solutions

Cyber Security and Privacy Liability

Some organizations may have little or no planned procedure in place to address a breach of cyber security and/or breach of confidential information, and may not necessarily understand the implications of a data breach. BMS, in cooperation with a market-leading Lloyd’s Underwriter, has introduced an insurance product that manages a breach from start to finish, allowing professionals to operate with the comfort of knowing that if a breach occurs, a response is in place.

For example: Your server has been compromised by malware, potentially exposing confidential client or patient information. Upon learning of the breach, you email or call the 24hr breach response hotline to report the incident.

Breach Response – A Breach Response team member will contact you to discuss the breach and assist with any needed investigation and response services.

Other, sometimes overlooked exposures that are addressed by BMS’ cyber offering are:

  • Costs involved with a regulatory proceeding relating to the violation of a Privacy Law, including penalties (where insurable)
  • Coverage for Business Interruption
  • Coverage for “Cyber Extortion” incidents
  • Third party liability for privacy breaches
  • First Party data protection
  • Website media content liability
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