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Cyber Liability Insurance for Businesses ?

Cyber risk solutions

Data breaches are complicated and costly. In 2017, our annual survey of business owners found that:

  • 58% had experienced a cyber attack
  • More than 20% of those victims spent at least $50,000 and took longer than six months to recover
  • 7% spent more than $100,000 
  • 5% took a year or longer to rebuild their reputation and customer trust

With cyber attacks becoming more frequent, there’s a growing chance that a business like yours will suffer a data breach or computer attack.

That’s why you need protection to help offset the devastating effects it can have on your business from a financial and reputation standpoint.

Along with cyber insurance coverage, you have access to experts to guide you through compliance with state breach notification laws to avoid fines and penalties.

Expenses that are typically covered include costs associated with: 

  • Notifying customers about a data breach
  • Providing credit monitoring services as required by some states
  • Setting up a call center for affected individuals to obtain additional information and sign up for credit monitoring
  • Protecting your electronic data and computer systems from damage and computer attacks\
  • Assisting with any associated legal expenses

Cyber Liability Coverages and Services

  • Data compromise protection
  • Identity recovery protection
  • CyberOne protection

Data compromise protection covers employee and customer information in the event of a hacking, physical theft of electronic data or hard copy files, procedural errors or fraud. Data compromise protection includes:

  • Legal reviews
  • Forensic information technology services to help determine the nature and extent of an electronic breach
  • Personal services for those affected, including a helpline, credit monitoring and case managers for victims of identity fraud
  • Services provided by a professional public relations firm to review and respond to the potential impact of the data compromise
  • Legal defense costs

Loss Control and Risk Management 

When you insure your business with Nationwide, you get access to our risk management resources, including eRiskHub. With eRiskHub, you’ll get a better understanding of your data information exposures so you can be prepared for a cyber attack or data breach.

Key Features of eRiskHub Include: 

  • An incident response plan roadmap, which provides suggested steps to take following a cyber attack or data breach
  • Online training modules on privacy best practices and red flag rules
  • Risk management tools, including self-assessments and state breach notification laws
  • An eRisk resources directory
  • A news center with cyber risk stories, security and compliance blogs, security news, risk management events and helpful industry links
  • A learning center with best practices and white papers written by leading authorities

Our Locations

Main Office

4751 Wilshire Blvd.
Los Angeles, CA 90010
Main office: 323-936-1010
Toll free: 800-697-6122

Main Office - Bay Area

182 Howard Street, Ste 845
San Francisco, CA 94105
Main office: 323-936-1010
Toll free: 800-697-6122

Main Office - Desert

5 Trinity Court
Rancho Mirage, CA 92270
Main office: 310-993-3425
Toll free: 800-697-6122

Our Providers

If you are looking for a company that has only your best interests in mind, go with Randall. My family has had them as our agent for over 30 years with the best care and service anyone could ask for in an insurance representative. They believe in securing the best policies for the most reasonable price. In addition, I cannot say enough good things about the care our personal agent has put forth for us.
Caren F.
My wife and I have enjoyed a most satisfactory relationship with E. Broox Randall and Sons Inc. for over 10 years. The two major factors of why we have been, and we will continue to be their clients for all our insurance related needs are: their excellent customer service, no matter what issues have arisen related to insurance, they have always provided prompt, reliable, and friendly service. The second reason is for our own “peace of mind”, as we trust and rely upon their industry expertise and general counsel on all our insurance needs no different than the long-standing relationship we have with our financial advisor on our finances, and tax expert on tax-related matters.
John B.
I came to Randall after a miserable experience with an agent. Randall changed our insurance experience with candor prompt service, competitive rates and always available to help with a claim, new or changed coverage.
Mike L.
I just want to thank you, Nedi, for your high level of knowledge and professionalism over the years, representing E. Broox Randall & Sons as my account executive. You have continued to oversee all my insurance needs in a very detailed and explainable way.
A.D. Z.