Data Breach Lawsuits

A class action lawsuit has been filed against Anthem Blue Cross Blue Shield by a Warren woman in response to their announcement of a data breach. The lawsuit is alleging that Anthem is guilty of negligence, fraud and breach of contract. Damages are expected to exceed $5 million.

Data-BreachA class action lawsuit has been filed against Anthem Blue Cross Blue Shield by a Warren woman in response to their announcement of a data breach.

The lawsuit is alleging that Anthem is guilty of negligence, fraud and breach of contract. Damages are expected to exceed $5 million.

Don’t think your company is too small to worry about protection.

Hackers take any opportunity they get. They will steal 100 credit card numbers from a small local business.

Businesses have to pay for an investigation into the breach, notifying customers, reputational management and the cost of credit monitoring. This does not even include the cost of lost business. They lose customers and have trouble getting new customers because people are afraid of putting their information at risk.

How can businesses protect themselves from data breaches?

CYBER LIABILITY INSURANCE

Cyber liability insurance coverage can include

  • Data breach/privacy crisis management coverage. For example, expenses related to the management of an incident, the investigation, the remediation, data subject notification, call management, credit checking for data subjects, legal costs, court attendance and regulatory fines.
  • Multimedia/Media liability cover. Third-party damages covered can include specific defacement of website and intellectual property rights infringement.
  • Extortion liability cover. Typically, losses due to a threat of extortion, professional fees related to dealing with the extortion.
  • Network security liability. Third-party damages as a result of denial of access, costs related to data on third-party suppliers and costs related to the theft of data on third-party systems.

Call our office for more information about protecting your business from cyber liability.
The Agent Insurance Services
330-758-3339

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