PA Privacy

Privacy / Network Liability

Privacy Breach / Network Security Liability

A connected business world means that virtually no business is without privacy exposure. Preferred Advantage provides coverage for this unique risk with the expertise to understand your needs and get you coverage that is appropriate to your client.

The Coverage

Privacy coverage is protection for a business or organization for data breach, which involves lost information (paper or electronic.) Coverage includes:

Notification costs
Credit monitoring costs (typical costs range from $20 – $30 per record)

Defense costs
Regulatory fines & penalties
Crisis coverage / public relations

Target Markets:

Small to midsize companies that maintain information on individuals or records including:

employee or customer social security numbers
credit card details
bank account information

health records
any other medical or non-public information the company holds or transmits.

The Exposure:

Data breaches can happen to anyone and frequently occur. They are typically caused by:

Lost or stolen laptops, media, back up tapes and thumb drives
Improper disposal of paper records

Computer hacking
Viruses
Employee misuse

Privacy breaches can result in huge financial losses, including

Notification costs
Credit monitoring costs
Third party liability claims

Damage to reputation
Loss of clients

How Much?

Premiums start at $350.00

Learn more about Advantage:

Privacy / Network Liability

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