• Target: 110,000,000 Customers affected
  •  JPMorgan: $100,000,000 lost
  •  Home Depot: $179,000,000 paid in settlements
  •  Swift: $81,000,000 stolen
  •  Anthem: 80,000,000 accounts affected
  •  TJ Maxx: 94,000,000 accounts affected

Who’s next? The question isn’t will you get hacked, the question is how and when? These companies listed are just a select few to highlight, if you think that your business won’t get hacked because it’s too small, think again. As of writing this, one of our contractors literally got his personal debit card/checking account hacked, just last week. Have you ever found fraudulent charges on your personal banking accounts? If someone was able to grab your information from there, how much harder would they work to get into your business accounts? Is your data breach software more comprehensive than these companies listed? It’s unlikely, but that’s where cyber liability insurance can help.

At Cobos Insurance, we want to ensure that you, and all of our other clients, are up to date on the latest risk management trends and strategies. As of today, there is no greater threat to your business than online/cyber risk. We felt compelled to explain why it matters and how you can protect yourself. After all, your protection is our profession! 

What are your Options?

By now, you know that cyber liability insurance in Ohio is a big deal. You know that your business, no matter the size, is now at risk of a cyber attack whether foreign or domestic. It doesn’t matter in the cyber world, the internet has no borders. We work with trusted insurance carriers to bring you the best in class cyber liability coverage.

The carriers we choose to work with allow you to choose your coverage ala carte, so that you are able to pick and choose the cyber liability coverages that best fit your business. Of course, we would advise you to sit down or chat with one of our trusted insurance experts before making any Ohio cyber liability insurance purchasing decisions. We have outlines some specific coverages below, but if you’d rather talk to someone immediately, simply call 440.233.6199 right now!

  • ●  Loss of Digital Assets: Loss you incur as direct result of damage, alteration, corruption, distortion, theft, misuse or destruction of electronic data and computer programs.

  • ●  Non-Physical Business Interruption and Extra Expense: Reimbursement for income loss, interruption expenses, and special expenses as a result of the total or partial interruption, degradation in service, or failure of the computer system.

  • ●  Cyber Extortion Threat: Reimbursement for the extortion expenses and extortion monies resulting directly from a credible threat or series of threats.

  • ●  Security Event Costs (Your own direct costs for a privacy breach, security breach or breach of your privacy policy): Reimbursement for security event costs such as noti cation costs, computer forensic costs and credit protection services. This also includes costs incurred to minimize harm to your brand or reputation, regulatory nes and penalties(where insurable) and any monies required for a Consumer Redress Fund.

  • ●  Network Security and Privacy Liability Coverage (legal liability for a cyber event): Payment on your behalf which you are obligated to pay as damages and claims expenses from your acts, errors or omissions or for others for which you are responsible including outsourcers and vendors following a security breach or privacy breach.

  • ●  Employee Privacy Liability Coverage (legal liability for breach of employee’s PII or PHI): Payment on your behalf in which you are obligated to pay as damages and claims expenses arising out of a privacy breach involving an employee’s private information.

  • ●  Electronic Media Liability Coverage: Payment on your behalf for damages and claims expenses as a result of

    defamation, libel and slander

    • ○  invasion of an individual’s right of privacy of publicity

    • ○  plagiarism or misappropriation of ideas under an implied contract

    • ○  infringement of any copyright, trademark, title, service mark

    • ○  domain name infringement, improper deep-linking, or framing

  • ●  Cyber Terrorism Coverage: Reimbursement for income loss, interruption expenses and special expenses directly as a result of total or partial interruption, degradation in service, or failure of the computer system which is directly caused by an act of terrorism.

  • We Can Help You

  • If some of these cyber liability insurance coverage options are confusing to you, don’t worry, they may not apply to your business but it’s important to talk through them to ensure that you find the right coverage for your unique situation. We understand the stress a business owner endures on a daily basis, our goal is to alleviate any stress related to the unknown and allow you to do what you do best, focus on your business.Whether you are an independent contractor or employ 500 people, cyber liability insurance is imperative for your business to survive and thrive in today’s turbulent business world. Call us today, 440.233.6199 or email me directly at rfcobos@cobosinsurance.net

  • Connect with Us!

    If you have further questions about Ohio Cyber Liability Insurance or ideas you would like to share with us, give us a call or shoot us an email today! We want to write posts about your favorite topics, be sure to interact with us on social media and let us know what you would like to see! You can connect with us through the following channels… 

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    Simply click the links above to connect with us and give us some feedback on our blog!

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