Cyber Liability Facts

What are the most common ways data gets compromised?
Data can be compromised in a variety of ways. Some of the most common cyber events involve hacking, lost or stolen laptops/devices, employee errors, ransomware, denial of service attacks or hacktivism.

Is all cyber insurance the same?
No. Each insurance policy may be materially different, it is important to work with Granite Risk Advisors to tailor a cyber insurance policy to fit your needs. Toffers

What standards apply to data privacy?
There are a variety of Consumer Protection Laws and standards in place that address handling private and confidential data of others, including such examples as:

• 47 State Data Breach Laws
• USA Patriot Act
• Children’s Online Privacy Protection Act (COPPA)
• Health Insurance Portability & Accountability Act (HIPAA)
• Health Information Technology for Economic & Clinical Health Act (HITECH Act)
• Gramm-Leach-Bliley
• Sarbanes-Oxley
• Federal Information Security Management Act (FISMA)
• EU Data Protection Directive
• California Data Breach Protection Act (SB 1386)
• Payment Card Industry Data Security Standard (PCI-DSS)

What should I do to prepare against cyber risks?
It is the business or organization’s responsibility to protect its assets—which includes its data. Including the security of sensitive records and information as a category of managed risk is smart business and cyber liability insurance is a critical part of your plan that can help mitigate the associated expenses of a cyber attack or data breach.