Cyber insurance products
Medical practices and other entities, such as health information exchanges, IT firms, and law firms that routinely handle confidential information are increasingly exposed to data breaches. Cyber attacks can result in significant financial loss from unauthorized disclosures of sensitive information.
TMIC has developed a standalone cyber liability and technology services liability insurance program to address the financial and reputational consequences of data security breaches.
TMIC’s products include the TechGuard Policy and the NetGuard Plus Policy, which covers wrongful acts committed by employees and outsiders; privacy claims from third parties; cyber extortion and cyber terrorism; hacking and virus attacks; and regulatory fines and penalties.
Coverage is also included for IT forensics to determine the cause of the data breach, as well as for breach response services such as:
- attorneys’ fees;
- IT security and forensic experts;
- public relations and advertising support;
- breach notification to customers and partners;
- call center and website support; and
- credit monitoring and identity theft restoration services.
TMIC’s TechGuard Policy also covers financial loss to others caused by errors and omissions from your technology or telecommunication services provided to others for a fee, including the costs for legal defense, claim settlements, and an unintentional breach of contact. TMIC’s NetGuard Plus Policy also covers income loss due to reputational harm from adverse media and publicity after a breach occurs and for cyber crime losses due to financial fraud; telecommunications fraud; and phishing attacks.
Consider TMIC’s cyber coverage if you are concerned about the effects of a data breach or if you need customized coverage with high limits (up to $5 million or more). There are no policy fees or surplus lines tax or fee, and quarterly payment terms are available without finance charges or installment fees.
For more information, contact John Southrey at 800-580-8658 ext 5976 or by email .