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.
Your customers trust your business to keep their personal data secure. If they don’t think your business can be trusted, the very future of your company may be at risk. A data breach is not a learning opportunity — you have too much to lose to risk mishandling it.
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.