Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

Cyber Breaches in Small Businesses| Cyber Liability Insurance Product Highlight

Published on September 13, 2016

As our society moves forward with technology, we find a greater ease of use. It’s easier to stay connected, but we also find ourselves with a much higher potential for being exposed or breached in harmful ways.

With these technological advances happening, your customer, now more than ever, needs to start thinking about getting Cyber Liability Insurance.

What we see on the news are the big cyber breaches — for example, the Target breach and the Chase Bank breach right after that. But what we don’t see on the news, is the fact that it happens to the smaller businesses locally as well. Your commercial insurance offerings should include Cyber Liability Insurance and we have a market to help you with that.

Here’s some helpful information for you as you talk to your customers about Cyber Liability Insurance:

For starters, there are 3 types of exposed data:

  • PCI – Payment Card Information  (credit and debit card information)
  • PHI – Personal Health Information (think HIPAA, health records)
  • PII – Personally Identifiable Information (Zip code, email address etc.)  CA has the most broad definition of PII in the country.
  • Most breaches expose PCI and PII. 

You can use this Risk Calculator to help your clients understand just how great their exposure really is.

Let’s take a business that has 1,000 customers’ credit card information. What would it cost if that data was stolen? This calculator helps you to see the full breakdown of exposure and see that the bottom line cost of that breach is $689,785. That’s definitely an exposure worth ensuring against, and this calculator can help your customers see that for themselves. It’s just not worth risking doing business without the Cyber Liability Coverage they could have.

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Cyber Liability Insurance Highlights:

  • Minimum premiums starting at $925
  • Retentions start at $2500.
  • Separate aggregate limit of liability per Coverage Part with option to combine into one aggregate limit.
  • Data Breach, Website Liability and Identity Theft expense paid as incurred.
  • Free access to a eRisk Hub Cyber Liability web portal, webinars & newsletter.
  • Security of an insurance carrier rated A++ by A.M. Best

Take care of your customers.

Quote Cyber Liability Insurance Online

HERE Now.


Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for Personal Lines Insurance, Commercial Lines Insurance, and Agribusiness Insurance in California and surrounding areas.

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