Cyber Liability
Cyber Breach Cost Calculator
The average cost of a data breach in the United States has risen to $8.2 million dollars, more than twice the global average. To see what a cyber breach could cost your organization, try our breach cost calculator.
Not If But When
At least one-third of U.S. businesses have been hacked or have experienced some sort of breach of sensitive data such as Protected Health Information (PHI) or Personally Identifiable Information (PII).
You are Exposed
This isn’t simply a random accident. Loss due to an “accident” is a basic tenet or requirement for insurance coverage to be available. We are being attacked, and our enemies are very good at what they do. The reality is, you’re probably more likely to experience a cyberattack than to have your building burn down.
We've Been There
The good news is that the insurance markets have come a long way in their cyber insurance offerings. Coverage is extremely broad. Cost for cyber policies continues to decrease. Insurers are getting experienced at coordinating and paying for breach responses for insureds.
Ask the Experts
With Mike Roman
We have experience with placing cyber coverage and coordinating the insurance response for organizations as large and complex as Fortune 1000 publicly traded companies and as small as a local landscaping firm.
Meet Our Cyber Wizard:
Mike Roman
For more than 15 years, Fortune 1000 publicly traded and privately held companies have trusted Mike with their comprehensive risk management programs and relied on his deep technical expertise in Cyber and Management Liability, including Professional Liability and Director’s & Officer’s (D&O) insurance.
Mike now champions these specialty practices for Alabama’s small-to-midsize businesses for Valent Group, an independent risk consulting firm and division of ESBCO Industries, Inc., one of the largest privately held companies in Alabama with a global footprint. Before joining Valent Group, Mike worked as senior vice president and client advocate at the third largest insurance brokerage in the world, where he spent nearly 14 years.
Mike Roman
For more than 15 years, Fortune 1000 publicly traded and privately held companies have trusted Mike with their comprehensive risk management programs and relied on his deep technical expertise in Cyber and Management Liability, including Professional Liability and Director’s & Officer’s (D&O) insurance.
Mike now champions these specialty practices for Alabama’s small-to-midsize businesses for Valent Group, an independent risk consulting firm and division of ESBCO Industries, Inc., one of the largest privately held companies in Alabama with a global footprint. Before joining Valent Group, Mike worked as senior vice president and client advocate at the third largest insurance brokerage in the world, where he spent nearly 14 years.
Cyber Breach: How vulnerable is your company?
The probability your company could be breached is higher than you think. Take our 2-minute cyber risk assessment to see your Risk-O-Meter.
FROM THE BLOG
Cyber Insights
Cyber Market Rights Its Course on Profitability
Direct premiums written for the U.S. cyber insurance market rose 50% to $7.2 billion in 2022 as the “first hard market” set the industry back on a path to profitability, according to a new report from AM Best. The ratings agency reported this week that growth in the...
No Holidays for Hackers: Higher Revenue Losses for Non-weekday Cyber Events
Holiday and Weekend Ransomware Events Ransomware events that occur on holidays and weekends cause much higher revenue losses than cyber incidents occurring on weekdays—primarily due to lower staffing levels—according to a survey of over 1,200 cybersecurity...
Cybersecurity: Online Holiday Shopping
Protect your family while shopping on the internet. During the holiday season, it's often easier to shop online to find gifts for your loved ones. But while online shopping can save you the trip to the store, it also comes with cybersecurity risks. Online shippers...
Lessons From the Colonial Pipeline Breach
One of the nation’s largest pipelines was forced to shut down in early May 2021 after falling victim to a ransomware attack. The 5,500-mile pipeline is operated by Colonial Pipeline and carries refined gasoline and jet fuel from Texas to New York. This pipeline...
T-Mobile Security Data Breach Impacts Over 40 Million People
T-Mobile Security Data Breach On August 17th T-Mobile learned their systems were breached. The cyber incident included personal information such as names, driver’s licenses, governmental identification numbers, Social Security number, dates of birth, T-Mobile pre-paid...
Cyber Risks and Liability for Cybersecurity Month 2020
To wrap up this year's cybersecurity month, we are reviewing some common phishing mistakes to help you steer clear and keep your business secure. We also provide some details on what is covered by cyber liability insurance and the top reasons to get it. 3...