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Information Security and
Privacy Insurance  
Specialty Lines 
May 2009
In This Issue
Exposures and Coverages
Specialty Coverage Explained
Additional Benefits
Quick Links
 
 
 
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Information security is an expanding issue, and not ensuring that confidential data is protected can cause major reprocussions for a company. 
Exposures and Coverage
                                                                             data security
Every auto dealership has a website and therefore, automatically places them vulnerable to these exposures, for example, potential hacking threats, email within the website, and credit card information that is passed through.
 
There are numourous other emerging data security and privacy exposures that companies today must face.   Industry-leading coverage for these types of risks within a policy should always include the following:  Electronic Media Liability, Computer Infomation Security, Privacy Coverage and First party coverage for losses from network security breaches.
Specialty Coverage Explained
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Electronic Media Liability
  • Covers display of electronic content on the insured's website
  • Extends to many internet-related exposures, such as advertising injuries that are not covered under many general liability policies.

Computer Information Security

  • Third party coverage in response to unauthorized access, theft or destruction of data, and virus transmission resulting from computer security breaches.

Privacy Coverage

  • Coverage for theft of personal identity information and liability arising from failure to comply with state breach notice laws.
  • Coverage for failure to comply with the insured's privacy policies.
  • Privacy breach notification costs and credit monitoring services expenses, as well as investigative and legal expenses.

First Party coverage for Losses from Network Security Breaches

  • Includes coverage for destruction and loss of data, network business interruption and cyber extortion caused by a security breach.
Additional Benefits
 
data security keyAdditional benefits to certain types of specialty coverage can include a
simplified application process for most companies and coverage for theft of hardware from insured's premises.  Business Interruption should include income loss and extra expense.  Also, forensic expenses and crisis management expenses are covered with a sublimit. 
 
 
 
ARM has two specialty programs which include all of the above mentioned components.  Both programs are tailored to target auto dealerships, with limits of up to $20,000,000.  So please visit our website, give us a call, or have your favorite independent insurance broker call us for further details to begin protecting your business's information and privacy today!
 
Sincerely,
 
Marvin E. McDougal, President
Automotive Risk Management & Insurance Services, Inc.
 
Phone:  800-224-6363   Fax:  888-504-8062
 
Email:  mcdougal@armonline.com   Skype:  marvin.e.mcdougal
 
Visit us on the Web:  http://www.armonline.com