Cyber Liability Insurance
Every organization faces cyber risk, no matter their size.
Benefit trust funds and unions perform important duties by striving to provide the best benefits and conditions they can obtain for working men and women. In carrying out these duties, trust funds and unions have access to personal information, such as social security numbers and home addresses, of their participants and members.
Your union or fund likely uses computers to send, receive, and store electronic data. If the data is lost, stolen or damaged due to a security breach, it could be very costly to replace or restore.
Additionally, in case of data loss, most states mandate that the entity must respond in a timely manner by notifying potentially affected individuals, regulators, and the press.
What Is Cyber Liability Coverage?
Cyber liability insurance covers financial losses that result from data breaches and other cyber events. Most cyber policies include both first-party and third-party coverages.