Any business handling customer data will, sooner or later, be confronted with the challenge of a data breach. It’s not a matter of “if” but “when.”
A data breach isn’t always a disaster. Mishandling it is.
Focusing on response
Many companies focus exclusively on data breach protection — and fail to pay attention to what happens when the walls are breached. But the truly dangerous time is after you’ve been breached.
After a breach you’re fighting to protect your bottom line and your reputation. A 2013 Economist Intelligence Unit study found that more than a third of customers suffering a data breach no longer did business with the companies in question. The way you manage a data breach to maintain customer trust is critical.
An experienced partner
Grinnell Mutual strives to offer our commercial customers top-quality protection and services. That’s why we partnered with Beazley, a leading insurer of technology and information security risks.
Our Cyber Liability and Data Breach Response Coverage, a solution to privacy breaches and information security exposures, is tailored to the needs of small to mid-size businesses.
This information security solution includes a range of services designed to help respond to an actual or suspected data breach incident efficiently and in compliance with the law.
If your company suffers a data breach, Beazley offers unique insurance, loss control, and risk mitigation services that will notify and protect your customers. Coverage includes:
- Response to breach events, including notification, call center services, breach resolution, mitigation services, public relations, and crisis management
- Third party liability, including coverage for regulatory actions and payment card industry (PCI) coverage for credit card breaches
- Assistance at every stage of the investigation from Beazley’s in-house team of data privacy attorneys and technical experts
- Initial breach investigation and consulting
- Complimentary loss control and risk management information, including online resources and value-added educational webinars
Our partner Grinnell Mutual also has detailed Q&A resource to help you get answers about data breaches and coverage.
Call us at Pardridge Insurance for more details and any questions you may have. 815-758-4447. We are an independent insurance agency carrying a variety of insurance products to fit your needs.
Claims handling and breach response services are provided by Beazley USA Services, a member of Beazley Group. Beazley USA Services does not underwrite insurance for Grinnell Mutual. Policies purchased through Grinnell are subject to Grinnell’s underwriting processes.
Updated 1.16