Are You Protected Online?

You can’t be too careful online these days. Did you know we have options for you to protect yourself in the event of identity theft,  a loss of business data,  or in the event of a data breach?

Protecting Yourself Online

Your homeowners insurance policy protects you if severe weather damages your electronics or if a visitor falls and is injured while on your property. But what about damage to your online identity or liability for something you published online?  In the era of internet finances and social media, every one of us is at risk of having our identities stolen or being sued for defamation. Most homeowners policies don’t cover these kinds of damages. Fortunately, insurance carriers offer options to protect homeowners from these and other online threats.

Identity Recovery – Sometimes called Identity Theft. This option provides coverage to help you recover your identity when it’s been stolen. This includes coverage for:

• costs to issue new ID cards and documents
• costs to repair your damaged credit rating
• lost wages and income due to stolen identity
• legal costs and counseling for consumer fraud
• travel expenses related to any of the above

Note: This coverage does NOT cover money lost to an identity thief. Talk with your bank about how to guard your finances online and always keep a close eye on your bank and credit statements.

Personal Injury – Sometimes called Personal Offense. This option provides coverage for damages you cause to another person’s good name, autonomy, or privacy. This includes liability coverage for:

• libel, slander, or defamation of character
• invasion/violation of privacy
• malicious prosecution
• wrongful entry or eviction
• false arrest, detention, or imprisonment

Coverage for identity theft or personal injury can be added to most homeowners policies for as little as $1 per month, depending on your carrier and current coverage levels. Give us a call or email to discuss your options.

Protecting Your Business Online

As of July 1, 2014, Mutual Benefit is offering two new coverage options for businessowner policy holders. As a business owner, you have a responsibility to safeguard the data of your clients, employees, and others. Small and mid-size companies are vulnerable to data breeches by computer hackers, thieves, and dishonest employees or data lost through inadvertent releases. Data Compromise coverage can help your business respond to the financial burdens and service obligations of a data breach. This includes:

• coverage for the cost to hire IT specialists to evaluate the damage
• coverage for legal counsel to review your legal notification obligations
• coverage for PR service to respond to the impact of the compromise
• liability coverage against lawsuits filed by affected individuals

Your business relies on data and computer systems. When these systems are attacked or infected with viruses, you risk losing critical data essential to your everyday operations and exposure to third-party liability. CyberOne coverage protects business systems from harmful cyber attacks, including:

• electronic data and system restoration costs
• data recreation from non-electronic sources
• lost income and PR service costs
• liability defense, settlement, and judgment costs

Similar coverage is available from other carriers and stand-alone polices can be written to cover these exposures. Give us a call or email to discuss options for your business.