Cyber LIability Insurance has become a hot topic of late.  Data Breaches of private information are making headlines almost daily, and for good reason. They can be very expensive. Some studies suggest that the total cost to the organization responsible for a breach might be near $200 per record. If several thousand records are compromised, it is easy to see how claims can quickly get to 7 figures or more.

Gaddis Co. is pleased to provide Cyber LIability Insurance that is very cost-effective. The  basic data breach coverage is for entities with total revenues under 10 million. Retailers can estimate premiums for most types of insureds using the table below:

Premium Pricing Schedule for Cyber Liability Insurance

We can also offer solutions for larger organizations or organizations looking for coverage enhancements such as:

1.       Libel/slander/copyright trademark coverage for web activity

2.       Third party coverage for denial of service attacks

3.       Third party coverage for destruction of data

4.       Third party coverage for breach of trade secrets

5.       Defense costs for regulatory proceedings

6.       First party coverage for destruction and loss of data

7.       First party coverage for business interruption

8.       First party coverage for data extortion

9.       First party coverage for cost of internal forensic investigation

10.   Payment of fines and penalties that reflect restitution to damaged individuals

Using our application or any similar application already completed, we can obtain quotes from the leading carriers on this line and help you sort through the widely varying options and coverage forms to help you and your client select the most cost-effective protection.