CYBER ATTACK DAMAGE INSURANCE CLAIMS ADJUSTER
Any business that depends on email, laptops, phones, stores, or processes sensitive information like names, addresses, social security numbers, medical records, credit card information, and other modern technology, you are at risk of a cyber-attack.
The Verizon Data Breach Investigations Report revealed, 33% percent of documented data breaches occur in businesses with less than 100 employees. Nearly 60% of small businesses close their doors within six months following a cyber-attack.
No matter how much an organization puts in its cybersecurity protocols, unauthorized use of information remains a threat. Hacking through the use of social engineerings, such as phishing email attacks, or other methods exploits weaknesses and gains access to sensitive information.
A 2005 to 2015 study by Trend Micro found “The use of hacking offered criminals the best returns for their efforts. These attacks create vulnerabilities beyond the protection of mechanical tools like encryption or password protection.”
A data breach can have vast implications for a company. It can disrupt daily operations as the company tries to understand how the data breach occurred, repair the damage done to systems, and make necessary updates to prevent this from happening in the future.
The public attention from a breach can negatively impact the business as customers who have been affected may switch to a competitor and potential customers may stay away due to fears of losing their data as well.
Data breaches carry a serious threat of legal action. The company may be required to provide credit-monitoring services at no cost to the affected individuals who had their data stolen. The company may be held responsible for fraudulent purchases and fund transfers due to its security cyber-mishap.
Why is cyber security insurance important?
Cyber insurance coverage can help a business recover from the financial burdens that security breaches can create. Cyber-attacks can be costly and difficult to overcome. Insurance can cover IT forensics investigation, data restoration, legal liability, and notifying customers about the breach.
A cyber policy may provide companies with protection from data breaches or the loss of electronically stored information.
Cyber insurance policies protect companies from hackers who gain access to company-stored personal identifying information (PII).
There are three cyber insurance coverages and services:
- Identity recovery protection: Helps victims of identity fraud restore their credit history.
- Data compromise protection: Credit monitoring and services provided by a public-relations firm.
- Cyber Protection: Protects your business against damage caused by a virus or computer attack and helps with the cost of restoring and recreating data.
What does cyber insurance cover?
- Investigative services
- Business Interruption
- Legal fees and expenses
- Notifying customers about a data breach
- Coverage and data recovery
- Restoring personal identities of affected customers
- Covers damages for your customers or partners affected by the cyber-attack
- Repairing damaged computer systems
- Settlement costs
- Security failure
- Recovering compromised data
- Media liabilities
It's not just large organizations being hacked or getting a virus. Roughly half of the small businesses in the US have experienced a data breach and that most of them had multiple breaches.
Not only can a breach damage your small business’s computer system, but it can also damage your reputation and put your customers and employees at risk as well.
Our Public Adjusters can lift the burden of managing your claim. We evaluate, document, and substantiate every detail of your loss and negotiate your claim for a fair settlement amount to help get your business back on its feet.
Call Us for a Free Consultation
If your business has suffered from a Cyber-attack, schedule an appointment with a Cyber damage insurance claims adjuster today at Disaster Recovery Adjusters, LLC. We will provide prompt, reliable service as we work with you and your insurance company to ensure you get the compensation you deserve.
We bring a wealth of knowledge in understanding the insurance process, required repairs and estimated costs of making insureds whole again.
Public Adjuster State Licensing and Service Area
Covering the entire States of Pennsylvania, Ohio & Virginia:
Public Adjuster Licensing in: PA #877366 | OH #1256395 | VA #1154491
Erie 814-882-7797 Pittsburgh 412-996-9117 Cleveland 216-208-2294 Centreville 571-448-1325