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Business Insurance in New York

Cyber Liability Insurance - Manhattan & Westchester County, NY, Fairfield, CT, and New Jersey

Data breaches and unauthorized use of data is an across-the-board risk for every business throughout all industries. Certain sectors have a higher risk of exposure, but no business is really immune from the risk of cyber liability in today’s digital landscape. That’s why at A.J. Benet, when we meet with a client, we review the inherent exposures involved in storing customer data on a computer, conducting credit card transactions on-line, using a social networking channel for marketing purposes and much more. Exposures that include cyber attacks, data breaches and privacy risks.

Your general liability policy, however, doesn’t provide coverage for these types of exposures and, unfortunately, many businesses don’t realize this. For proper protection, you need the security provided by a cyber liability policy.

A.J. Benet offers cyber policies that provide first- and third-party coverage for electronic and non-electronic security and data breach events, including physical theft or breach of privacy. Third-party liability provides coverage when individuals sue your business to recover damages because they have been harmed financially due to a data breach. This may involve personal information being compromised that ruined someone’s credit rating or prevented someone from obtaining a loan, for example. You are then sued for the damages associated with that disclosure.

First-party liability coverage is where much of the expense of a privacy breach can come in – even if you are not sued. You’re obligated by statue to notify individuals that their data has been compromised. Notification costs can include sending out letters, using a call center, and offering free credit monitoring, etc. You may also have to contract forensic services to analyze your computer system to determine the extent of the problem. Then there is reputational damage, which involves marketing and PR costs to protect your image and regain your customers’ trust. In addition, depending on the industry you’re in, you can be fined and penalized under regulatory action. Insurers offer different coverage limits and sub-limits for these various first-party liability exposures, which we will review with you.

Going beyond the firewall with cyber insurance.

We invite you to give us a call at your convenience at (888) 639-4560, or if you prefer email us or return the form on this page, and we’ll call you to set up an appointment to review your business insurance program in detail.

Since 1964, A.J. Benet has been serving businesses in New York City, Pelham Manor, Pelham, New Rochelle, Larchmont, Mamaroneck, Harrison, Rye, Port Chester, Rye Brook, South Salem, Purchase, White Plains, Scarsdale, Eastchester, Bronxville, Armonk, Chappaqua, Briarcliff, Pound Ridge, Bedford, Mt. Kisco, and Katonah, New York; as well as in the Connecticut communities of Greenwich, Cos Cob, Riverside, Stamford, Darien, Rowayton, Fairfield, Westport, Southport, and New Canaan.