Cyber Guard

ASUREPRO Cyber Guard is a cyber risk protection plan that covers businesses against losses from cyberattacks like hacking, data breaches, denial of service attacks, viruses, and more. With increasing digitization, cyberattacks pose a growing risk to businesses. This plan typically covers common cyber risks, covering both first-party losses and third-party legal claims in scenarios like data theft, hacking, ransomware and cyber extortion, data center hacks, and more.

Who needs Asurepro Cyber Guard protection plan?

The cyber liability protection service covers financial losses from cyber events like data breaches, hacking, viruses, denial of service attacks, etc. It comprises two components: first-party coverage and third-party liability coverage. The first-party coverage protects the company's expenses in case of a data breach or hack, while the third-party coverage protects against lawsuits from customers, vendors, partners, etc. for a data breach. Businesses can opt for either or both types of coverage.

First-party coverage protects against financial losses incurred from a data breach, hack, or cyber event. It covers the expenses of responding to and recovering from a data breach, including:

Notifying your customers or employees affected by the breach, if personally identifiable information is involved in a data breach.

Providing credit monitoring services to those affected by the data breach.

Hiring technical consultants or lawyers to find out whether a breach happened, the extent of the breach, and any regulatory compliance necessary.

Advertising and public relations costs to educate customers or other affected parties about the breach and help to fix your company’s reputation.

First-party coverage protects against data loss, damage, or corruption from a hack, virus, or denial of service attack, including data belonging to others stored on your systems. It covers the cost of restoring or recovering lost or damaged data and hiring consultants. However, it does not cover data loss from business or employee mistakes. If a data loss causes business interruption, the coverage can reimburse for loss of business income.

Third-party liability coverage from cyber liability protection plan covers lawsuits from clients or others for breach of security or privacy. It protects against claims for failure to protect data belonging to customers, employees, vendors, or others.

This coverage can include:

Legal expenses If your business is sued, cyber liability protection plancan cover attorney’s fees, court costs, and any resulting judgments or settlements.

Network security claims Your company may face lawsuits if network security fails, incl. data breaches, viruses, denial of service, or unauthorized access. Network security insurance covers trade secrets & client patent apps exposed in a hack or breach.

Privacy claims Your business may be sued for neglecting to secure sensitive data on its network and systems. Privacy breaches incl. physical records, human error, and wrongful collection of personal info.

Employee privacy liability If sensitive data about your employees is stolen from your company systems, including PII, your business could be sued.

Regulatory fines Government regulators may impose fines, penalties, and other costs on your business in response to a data breach.