As a market leader in cyber and data insurance, Hiscox is releasing the findings of The Hiscox Cyber Readiness Report 2017, which examines how prepared businesses around the world are to deal with cyber threats. The report, which surveyed managers and IT specialists at 3,000 companies in the US, UK and Germany, found that more than half (53%) of businesses are ill-prepared to deal with a cyber-attack.
We encourage you to check out the full study to learn more about how businesses are facing and managing cyber incidents.
Download the report now
- Hiscox CyberClear: NEW Surplus form with clear, easy to understand policy wording for a wide spectrum of industry classes
- Affirmative breach of contract coverage, including for breach of merchant services agreements and indemnified PCI fines and penalties
- Full policy limits coverage for PCI assessments, ensuring protection beyond a simple PCI fine or penalty
- Costs in responding to a breach now available in addition to the limit of liability complimentary breach prevention services provided via Breachprotection.com
- Expert breach response vendors and services available via the Hiscox eRisk Hub®
Who we cover
Click here to view our Cyber and Data Risks Appetite Guide.
Stolen laptop of small health care business results in a $50,000 regulatory fine
A laptop containing the protected health information of 441 patients was stolen out of an employee’s car. As a result, the Office of Civil Rights (OCR) investigated and found the entity had not conducted a risk analysis to safeguard the information and did not have policies or procedures in place to address mobile device security as required by the HIPAA Security Rule. The OCR fined the healthcare business $50,000.
Printer’s error allows unauthorized access to sensitive information
A printing company accidentally included a user name and password in a client’s brochure, which was posted on the client’s website. The login information enabled access to the client’s customers’ medical records and other personal information, including names, Social Security numbers, addresses, driver’s license numbers and credit information. The printer’s client engaged an outside forensics firm, notified the individuals and offered free credit monitoring. The client then sought recovery of these costs from the printing vendor.
Unencrypted laptop containing employee data stolen from business services firm
A laptop belonging to a business services firm’s employee was stolen from his car. The laptop contained unencrypted personal data of a client’s employees, including their names, Social Security numbers, and home addresses. Failing to encrypt the data was a direct violation of the firm’s contract with their client.
- First-party and third party liabilities arising from a data breach event
- Defense cost and indemnity covered, as permitted by law, whether it’s a claim for a statutory violation, regulatory investigation, negligence or breach of contract
- Provides full limits for forensic costs incurred in the defense of a covered claim
- Provides full limits for credit or identity protection costs as part of a covered liability judgment, award or settlement
- Both negligence and breach of contract claims arising out of a breach of credit card details, including PCI Fines and Penalties and PCI Assessments ensuing from the breach of a merchant services agreement
- Both complimentary pre-loss breach prevention services (Breachprotection.com) and complimentary breach responses services, including one hour with a data breach coach to assist you in responding to a breach event (Hiscox eRisk Hub®)
- Cyber Business Interruption provides a minimum hourly amount for a covered business interruption loss, with coverage for additional loss amounts available upon our review of supporting receipts