Data Compromise - How Would Your Customers React if their Personal Data is Breached?
An Emerging RiskToday, all businesses collect and store personal information about customers, employees, and others. And data compromise — the theft, loss, or mistaken release of private information — is on the rise. Data Compromise Insurance is designed to help small and mid-sized businesses notify and assist their clients and others following a breach of personal identifying information. It covers the cost of notifying clients, employees and others affected by the breach and provides specialized services such as credit monitoring and identity restoration that help businesses retain their clients’ and employees’ trust and good will following a breach.
Coverage SummaryData Compromise coverage covers the expense to respond to a data breach and includes services to assist a business’ clients, employees, and others affected by the breach. These include:
- Legal review of notification obligations.
- Help to find who was affected by the breach and how to notify them.
- Preparation of notification letters.
- Toll-free help line.
- Credit monitoring for affected persons.
- Identity restoration case management for identity theft victims.