Cyber & Data Security
How confident are you that your computer systems are protected from the ever-growing threat of cybercrime?
Technological change is affecting the way we work, play, and live. We are no longer content with obsolete methods. As technological advances continue, our dependency on this technology increases. As a result, consumers expect more, and your pressure to meet these expectations escalates.
The rapid change in technology has had an impact on the insurance industry as well. Traditional insurance programs do not meet the changing exposure to loss that has been created by new technology. State and Federal privacy laws designed to prevent and deter identity theft are being enacted with increasing frequency. Security breaches range from a misplaced mobile device to a sophisticated cyber attack.
In most instances, the law requires companies to notify potentially affected individuals and take proactive steps to minimize the possibility of identity theft. Even if no identity theft results, compliance with legal mandates can be a significant expense.
Marsh & McLennan Agency can work with you to identify the cyber liability exposure to your business and evaluate the best way to minimize the risk through insurance solutions:
Coverage options include:
- Liability coverage for financial losses resulting from identity theft
- Privacy notification expense
- Credit monitoring services for affected individuals
- Lost income resulting from computer hacking and virus transmissions
- Extra operating expenses from cyber attacks
Marsh & McLennan Agency also conducts an annual survey about perceptions of Cyber Risk and Cyber Liability insurance. We then analyze the feedback of employers across the United States and draw out observations about how small and midsize employers view cyber issues.
Click here to read our Cyber & Data Security Risk Survey Reports.
The following videos are from our April 11, 2017, seminar "Cyber Security Protection: What To Do When Your Private Information Becomes Public."
Information Regarding 2015 Anthem Cyber Attack:
Anthem has reached a settlement to completely resolve the multidistrict class action litigation brought against Anthem and other defendants relating to the 2015 cyber attack. Under the settlement, which was preliminarily approved by the court on August 25, 2017, Anthem does not admit any wrongdoing or acknowledge that any individuals were harmed as a result of the cyber attack. Nevertheless, we are pleased to be putting this litigation behind us, and to be providing additional benefits to individuals whose data was impacted in the cyber attack.
A third-party settlement administrator is managing the settlement, which is overseen by the court in this litigation. The Settlement Administrator is the best resource for questions pertaining to the settlement agreement.
Please go to www.databreach-settlement.com or call 1-855-636-6136 for information on this settlement agreement, to register for the credit monitoring or identity protection services offered or to submit claims for out-of-pocket costs or alternative compensation.
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