Cyber exposure is here to stay
Analysists predict that – once again – cybercrime will be on the rise in 2018. Insurance broker Aon pinpointed three reasons for increased cyber exposure:
- Additional reliance on technology
- Intensified regulation of consumer protection
- Increased value of “non-physical assets”
What’s more, individuals in Maryland and Pennsylvania appear to be at a heightened risk. The two made the list of 15 states where cybercrime is expected to grow the quickest in 2018, based on data from the FBI and Insurance Information Institute.
PROTECT YOUR CUSTOMERS
Educate your customers on identity theft insurance and cyber liability insurance. As an IA&B member, you have access to our consumer education library, which addresses both topics through frequently asked questions and vetted answers.
PROTECT YOUR AGENCY
Small businesses, including independent insurance agencies, are at risk for cyber attacks and for accidental data breaches. While many E&O policies offer a cyber endorsement, a stand-alone data breach policy provides the benefits of broader coverage, specialized risk management services and a carrier with claims experience.