As breaches, destruction of data, network failure and regulatory change increases, the need for cyber insurance grows in direct proportion. AHT takes a different approach to cyber liability insurance than traditional insurance brokers. We work hand in hand with numerous cybersecurity consultants and experts to provide our clients with proactive loss control services and use insurance as a final means of risk transfer.
With our national footprint and experience, we have negotiated competitive rates with select attorneys, cybersecurity firms and other loss control providers to simplify the regulatory compliance process and create customized insurance solutions for a variety of industries.
With electronic communication at the forefront of how businesses operate, hackers are thriving — leaving businesses vulnerable to:
Security breaches leading to release of confidential data such as Personally Identifiable Information (PII), Protected Health Information (PHI) or Payment Card Industry data (PCI)
Theft of valuable business information, such as customer lists, trade secrets or electronic business assets
Costs for notification to impacted parties, along with associated expenses to remediate loss (i.e. credit monitoring)
Significant business interruption causing loss of profits and additional expenses during downtime
Introduction of damaging malicious computer codes or malware
Extortion from hackers
Liability from lawsuits
Small companies that suffer a cyberattack are out of business within six months
Records exposed by data breaches first half of 2019
Source: Varonis 2019 Data Risk Report
Amount of loss due to business email compromises - 2013 to 2016
Source: Internet Crime Complaint Center, Cisco 2017 Midyear Cybersecurity Report
As awareness of the severity of cyber breaches has been fueled by their frequency, the insurance industry has responded with an evolution of specific coverages to address cyber liability. Most policies are written on a modular basis but are not standardized and can vary significantly from one insurer to another.
Through our selected partners, we offer the following services and solutions for our clients:
Internal Policy Assessment
Employee Awareness Training & Internal Distribution Content
M&A Due Diligence
Supply Chain Risk Identification
Procurement & Contract Review
Catastrophic Modeling & Loss Quantification
Administration of Phishing Examinations
External Network Traffic Monitoring
Tech E&O / Professional Liability
- Third-party coverage
- Financial injury to a third party caused by errors in your product or negligence in your provision of services
Data Privacy Liability
- First or Third party coverage
- Privacy remediation expense
- Privacy regulatory defense costs
- Privacy regulatory fines and penalties
Network Security Liability
- First or Third-party coverage
- Business interruption
- Data restoration
- Cyber extortion
- Third-party coverage
- Advertising and Personal injury
- Infringement of copyright or other intellectual property
“We have carried cyber liability for a number of years, however, we never really had a complete grasp on what we had purchased until we were referred to AHT’s cyber team. They did a great job of bridging the gap between the technical aspects of cybersecurity and our insurance program. We are far more confident in the program we have in place and its ability to respond if called upon.”
CYBER CRIMINALS WON’T WAIT TO ATTACK.
SO, DON’T WAIT TO PROTECT YOURSELF.
Already have a cyber liability program in place?
Given the breadth of expertise cybersecurity and cyber liability insurance require, make sure you have a thorough understanding of the program as a whole and how it will respond in claims scenarios. Our professionals will assess your existing program and make recommendations where needed to ensure you’re covered from all angles.
Need to put a cyber liability program in place?
Purchasing cyber liability in an immature market can lead to uncertainties and remorse in claims scenarios. Our professionals in this space have trusted relationships and international reach — giving them immediate access to claims professionals at each of the top insurers in the industry.
Our contracted cyber liability insurers represent a combined capacity of $1B+.
Protect your business. Protect your employees.