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Welcome to the NCX Cyber Insurance Desk!

 

As an NCX member you probably have already benefited from our tracking and monitoring of many of these breeches and reporting them to our members for notice and awareness...  For our prospective new members... we want to emphasize that today its becomming vitally important to become "Cyber-Aware", and begin to put in place the necessary IT and security network upgrades in your businesses and in your homes to be prepared for cyber intrusions, malware, and ransomware attacks.

 
For those new prospective members... we welcome you to join our cyber-security ecosystem family  
 
It's Time to #CyberUpAmerica !
 
That's why we have introduced the NCX Cyber Insurance Desk... a New Cyber Insurance-oriented blogging resource for you to stay up to date on cyber insurance trends, learn from the cyber-pros about risk management, and cyber IT and IS best practices, and gain new insight into current and future cyber insurance carriers, and their various products and service offerings.  Each Month we will feature a cyber insurance professional who will cover various cyber insurance topics from both a carrier's, as well as a users' perspective to post articles of interest for our members.   These posts will also appear on our NCX Forum and be distributed over our IoS and Android mobile apps.
 
So, what is Cyber Insurance, and Why Do I need it ?
 
Remember, it’s not just large organizations that are susceptible to attack or getting a virus. Did you know that 55% of small businesses have experienced a data breach in the past 5 years, and that 53% have had multiple breaches?   That's why cyber insurance can be a smart addition for any size business.
 
What is Cyber Insurance?
 
Cyber insurance generally covers your business' liability for a data breach involving sensitive customer information, such as Social Security numbers, credit card numbers, account numbers, driver's license numbers and health records if you are storing them locally on your networks or in the cloud.
 
Won’t my general liability policy cover cyber liability?
Usually, General liability insurance will only cover bodily injuries and property damage resulting from your products, services or operations. Cyber insurance is often excluded from a general liability policy.
 
What does Cyber Insurance cover?
Besides legal fees and expenses, cyber insurance typically will be used to address these activities:
  • Notifying your customers about a data breach
  • Restoring personal identities of affected customers
  • Recovering compromised data
  • Repairing damaged computer systems
 
Most states require companies to notify customers of a data breach involving personally identifiable information– a process that can be very expensive. And even though most states don’t require companies to offer free credit monitoring following a breach, such a gesture goes a long way with public relations.

Look for future Posts here in the NCX Cyber Insurance Desk !

 

 

 

Cyber Glossary

If you're confused about the "myriad" of terms and the lexicon for Cyber Security: clickheresm

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