JP Perry Insurance is now offering a new Travelers product, CyberRisk. This coverage from Travelers Bond & Financial Products is meant to limit internet exposures and manage associated risks.
According to Jason Glasgow, product manager at Travelers, “Cyber risks leave businesses exposed regardless of size, industry or track record. While some business owners have employed tactics to minimize opportunities for exposures, the risks go far beyond a single hacker accessing information. From dealing with information leaks to meeting expenses associated with crisis management, business owners need to be prepared to manage their cyber liability.”
We have all heard the recent news stories of large scale data breaches and they seem to be increasing in frequency. As cyber risk becomes a larger threat to companies of all sizes, the associated costs and record breaches are increasing. Recent studies show the average cost of a data breach in 2010 was over $7 million. According to another study, there were more than 500 million records breached in the U.S. last year.
CyberRisk will be offered through Travelers’ suite of management liability products including Wrap for Private & Non-Profit Organizations, Executive Choice for Public Companies and SelectOne for Financial Institutions. JP Perry Insurance can help you build a custom CyberRisk policy that fits your business needs based on 10 coverage options. These options address exposures and the ripple effects associated with a cyber-related events including:
Third Party Liability coverage:
Network and information security liability
Communications and media liability
Regulatory defense expenses
First Party coverage:
Crisis management event expenses
Security breach remediation and notification expenses
Computer program and electronic data restoration expenses
Computer fraud
Funds transfer fraud
E-Commerce extortion
Business interruption and additional expenses
Give us a call at JP Perry Insurance to discuss your business’s exposures and concerns. We are here to help guide you through the coverage selections with not only Travelers, but all our other product offerings with many of our outstanding carriers.
********About J.P. Perry Insurance *********
Since 1954 J P Perry Insurance has been serving the ever changing and sometimes challenging insurance needs of the Jacksonville area. Over 5,800 families, and businesses in Jacksonville, St. Augustine, Ponte Vedra and the surrounding areas have entrusted us with their auto, homeowner and business insurance. We think saving you money on your insurance premiums for your car, home, boat, or commercial enterprise is important - but even more important is making sure that you get the best insurance protection possible.
We are Jacksonville's Protector!
Since 1954 J P Perry Insurance has been serving the ever changing and sometimes challenging insurance needs of the Jacksonville area. Over 5,800 families, and businesses in Jacksonville, St. Augustine, Ponte Vedra and the surrounding areas have entrusted us with their auto, homeowner and business insurance. We think saving you money on your insurance premiums for your car, home, boat, or commercial enterprise is important - but even more important is making sure that you get the best insurance protection possible.
We are Jacksonville's Protector!