Cyber Liability Insurance

It’s a fact: 1 in 3 data breaches occur in small to medium-sized business, yet 52% of small business owners have no data security policy. This is a mistake, because in today’s data-heavy environment, this can expose you to massive liabilities and costs. Not only can the recovery of lost data be very expensive, but the very loss of it can expose you to lawsuits, settlements and judgments. Having the right coverage is critical to your business.

Data breaches include the loss, theft, accidental release or accidental publication of Personally Identifiable Information and Protected Health Information, including numbers for Social Security, bank account, driver’s license, credit or debit cards, and email addresses. These breaches can occur through hacking, theft or release due to unauthorized access, stolen or lost laptop, smart phone, thumb drive, paper and electronic files – or just through error or oversight.

Navion conducts a full risk assessment of your data security liabilities and constructs a policy to help protect you in the event of a cyber breach. We’ll help restore your business’s reputation, assisting you with regulatory compliance and breach handling guidance. We’ll cover your for defense and liability expenses for civil awards, settlements and judgments. And we offer services to help you with response expenses such as mailing notification letters, credit monitoring services and public relations.