ICCF provides solutions across several areas, including technology errors and omissions, network and information security liability, and communication and media liability.
• Technology Errors & Omissions Liability
• Communications & media Liability
• Network & information security Liability
• Internet Liability
• Privacy Liability
• Credit monitoring
• Notification costs
•Credit card or bank account information
• Medical information
• Social Security or driver’s license numbers
• Customer names, email addresses, phone numbers, and addresses
• Cybersecurity for other businesses
Some small tech companies assume hackers target only large companies. But nearly a third of all cyberattacks hit small and medium-sized businesses. These attacks are often successful, since smaller tech companies are less likely to have a strong defense against hackers.
The average cost of a small business data breach is $86,500
Cyber insurance is generally designed to help businesses address any expense that might occur as the result of a data breach, including forensic investigations, business losses and notification expenses, as well as addressing lawsuits and extortion attempts.