Protecting your online exposure and mitigating cyber risks
Much of our world today is digital, which comes with its own unique risks. Even if you aren’t an online retailer, all businesses are vulnerable to a data breach or cyber attack. Are you prepared?
Whether it’s protecting your systems from hackers and data breaches, or complying with ever-increasing regulations, we will design cyber liability coverage tailored for your organization.
Customized coverage with more "byte"
We’ll work with you to identify and quantify your risks, and then develop a customized cyber insurance solution to protect your organization. In fact, we’ve developed broad proprietary protection for both first- and third-party costs, including breach response expenses, business income loss, digital asset recovery, regulatory investigations, and legal liabilities.
Types of coverage
- Network security and privacy liability, including regulatory penalties
- Breach response notification and related crisis management expenses
- Cyber extortion and ransom demand
- Network business interruption for security breaches and system failures from human error
- Reputation damage
- Data restoration cost
- Website media
- Cyber crime from email phishing attacks
We’ll analyze your operational exposures and business interruption risk from a security breach. To understand and evaluate the impact of all exposures, we follow these steps:
- Operations Review – Risk-mapping workshop
- Website Review – Analyze media and data exposures through website content and functionality, data collection, online bill presentment and payment, links and other online features
- Contract and Service Agreement Reviews – Assess information security risks in service provider and customer contracts; develop guidelines for your field operations to define duties, prevent and respond to breaches, and ensure conformance with required coverage/limits.
- High-Level Review of Regulatory Requirements – Identify regulatory concerns that may arise from compromised data and systems (since we do not act as legal advisors, we encourage involvement from your in-house and outside legal counsel)
- Exposure Analysis Report/Detailed Summary of Exposure – For example, professional services/third parties, information security risks, first-party exposures, and intellectual property risks
- Insurance Program Gap Analysis – Review current insurance programs to identify coverage gaps
- Solution Building and Program Recommendations – Create and deliver a bespoke solution to respond to your business’s specific needs
Business insights & resources
McGriff Market Update: Fall 2023 (White Paper)
Client Advisory: A Tale of Two Cyberattacks: MGM and Caesars (Article)
Client Advisory: Insurance Strategies For Renewable Energy Tax Credits (Article)
Insurance products and services offered through McGriff Insurance Services, LLC, a subsidiary of Truist Insurance Holdings, LLC, are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may go down in value.
McGriff Insurance Services, LLC. CA License #0C64544