Could Your Utility Weather a Data Breach?
As hacking, malware and ransomware attacks continue to rise, it is imperative that all utilities prepare to deal with a data breach. Requiring credit information, accepting credit/debit card transactions and holding personally identifiable information to include Social Security and Driver’s License numbers make utilities a prime target for cyber intrusions.
Are you prepared to deal with a cyber breach? Do you know the legal requirements for notifying affected parties and how to effectively work with regulators? Do you have the money to pay these costs without insurance?
Bailey Special Risks (BSR) proudly offers Beazley Breach Response insurance for utilities. This unique insurance provides a comprehensive service that protects utilities that have suffered a data breach with notification, loss control, credit monitoring services, and more.
Beazley has helped clients handle more than 500 data breaches, including many involving hundreds of thousands of records. This service is designed to meet three critical needs for utilities: speed, thoroughness, and coordination.
♦ Coverage features include data breach notification and credit monitoring or identity monitoring services for up to 100,000 affected individuals, with separate coverage limits for third party claims
♦ Breach response coverage includes forensic and legal assistance, notification costs, credit monitoring services for each person notified, loss prevention services and identity theft-related fraud resolution services
♦ Crisis management sublimit for public relations and extraordinary notification expenses
♦ Low per-incident retentions
♦ Policy also provides a separate $1 million limit of liability for privacy, network security and media claims; enhancements are available for first party and other exposures
SCRWA has partnered with BSR to offer a comprehensive affordable data breach insurance policy provided by Beazley Insurance Company for association members. Along with the policy you will have access to Beazley’s award winning Breach Response Services to help you navigate the post breach terrain. Their legal, computer forensic, and public relations services are activated with one call or email to the BSR Services.
Please complete the attached application and return to or fax it to 615-264-3980 to obtain pricing for your system.
If you are interested in more information about this exclusive NRWA policy, please see links below.
Visit Bailey Special Risks’ website here.