Trust funds and unions have access to the personal information of their participants and members. If this data is lost or compromised, most states mandate that the entity respond in a timely manner by notifying potentially affected individuals, regulators, and the press. Stand-alone Cyber Liability insurance coverage from Ullico Casualty Group responds to both first and third-party claims in the event of a data breach.
"No one thinks a breach will happen under his or her watch, but then it does," says Bill Cavanagh, President of Ullico Casualty Group. "It could be from hackers intentionally trying to steal data, or someone losing a laptop with personal information on it. In either scenario, our new Cyber program provides both the liability insurance and the risk management services needed to properly respond."
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