Cyber Risk

Sprezzatura Insurance Group, is aware of today’s privacy conscious society. Companies can be affected by a breach of sensitive customer or employee information. In order to avoid any potential losses we will analyze any real exposure our clients may have and create a sophisticated insurance program balanced out between coverage and final cost.

Industries Typically Exposed

Large Retail Company
Medical & HMO Companies
National Sports Equipment Retailer
Financial Institutions
Moving Companies
Restaurant Chains
Insurance Companies
Telecommunication Company
Tele-Marketing Company
Water System Institutions
Travel Agency

Three typical reasons on why we recommend our client to carry our Cyber Liability Insurance Program is:

Increasingly stringent laws and regulations enacted over the past decade have elevated a company duty of care for how it safeguards personal information. The failure to comply with legal and regulatory obligations places corporate reputations at enormous risk.
Advances in technology have made safeguarding client trust and corporate reputations from privacy breaches far more difficult. Technology has made it easier to store, the equivalent of an entire pickup truck of printed social security numbers, credit card numbers or health records on the USB flash drive in his pocket.
In an era of global outsourcing, risk managers should recognize that privacy risks do not end at corporate firewalls. Any company that entrusts outside contractors to handle its sensitive data – including employee

An overview of a Cyber Risk Liability Program

Privacy Liability

Covers loss arising out of the organizations failure to protect sensitive personal or corporate information in any format.
Provides coverage for regulatory proceedings brought by a government agency alleging the violation of any state, federal or foreign identity theft or privacy protection legislation.

Identity Theft Response Fund

Covers expenses to notify customers whose sensitive personal information has been breached, as well as expenses to obtain legal, public relations or crisis management services to restore the company reputation.

Network Security Liability

Covers any liability of the organization arising out of the failure of network security, including unauthorized access or unauthorized use of corporate systems, a denial or service attack, or transmission of malicious code.

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