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Archive for the ‘Social Media Insurance’ Category

Cyber Liability – Is your website infected?

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As though there weren’t enough problems, websites can be compromised, becoming sources of computer virus infection for your clients. Talk with us about #CyberLiability and #DataBreach insurance. 1-800-548-2329.

Google’s survey says there are many more compromised legitimate sites than there are sites designed to spread malware.  Click here for a commentary from our client IT Radix and access to the Google Malware Dashboard.

Once a legitimate site is compromised, all the unpleasant things you’ve heard of start happening: malware recording your entries or your clients’ entries, spreading viruses, and so on.  Your site is likely to be black listed by search engines.  It takes a long time and a lot of work to come back from that.

As soon as IT Radix scared us with this topic, we ran out to their suggested screening site  http://sitecheck.sucuri.net/scanner/ and checked our sites.  Everything was fine, today.  Our site providers keep track of this, but with the damage that we could face, it’s important to keep checking, and to keep our insurance in place.

Who owns your company’s data? How do you make sure?

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You own your data, but you have to take steps to make sure you can control it, both legally and in the cyber world.

Do your employees use only devices your company owns?
Have they acknowledged that their information on those devices is not private?

If they use their own devices to access your information, have they agreed to let you review any and all information on those devices?
Have they agreed to let you wipe their devices if you find your information on them?

All of this should involve help from your own lawyer.

Even if you get a signed acknowledgement that you can look at their information and look at information on devices they own, you’d better be talking to your own lawyer if you run into a communication between your employee and his or her own attorney.

On the IT front, a good IT provider can help erect barriers to penetration by outsiders, and to theft of data by insiders.

But multiple platforms are complicating IT.  Mobile malware is exploding.  And many small businesses don’t keep current with firewalls and monitoring of data use.

If you’d like to discuss IT issues in more depth, try this link to IT Radix.  And we thank them for putting on the seminar that provoked many of these questions today.

The legal questions in the seminar today were posed by Colin Page, Esq.  Try this link to make contact with his law firm if you have questions on data ownership and employment issues.

Can Cyber liability or data breach destroy your company?

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Yes it can.  Losing customer information can sink your company.

In the case cited in the linked Risk and Insurance article below, a medical records company suffered a burglary (not a hack, a burglary).  They lost certainty that 14,000 patient records were secure, and went out of business ahead of the wave of lawsuits.

For more information, look at other pages in our blog, or click here for connection to our web site page about Cyber Liability/Data Breach or lost record insurance.

Link to Risk and Insurance article

Cyber Liability again – Cloud Computing

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Cyber liability/Data Breach Liability problems continue to heat up.

A North Jersey Law Firm (Mandelbaum, Salsburg) is putting on a seminar:  Hacked to Death.  They outline how cyber liability and data breach are threatening businesses, even those that never thought they could have a problem.

A major insurance company, CNA, is offering education to agents to try to bring them up to speed on the threat to business.  Here’s their Technology Underwriting Director’s comment at 8:00 AM 9/14/2012.

“In an effort to manage expenses, more businesses are transferring their back-office technology operations to “The Cloud”. They save money. But, they have not transferred their primary liability.

  • Who is responsible for your Insured’s data…that was “transferred” to The Cloud? Your Insured is.
  • How does the standard Property & Casualty respond? Not Covered

~Business Interruption…this is not a tangible loss. Not covered under Property.
~Privacy Injury…General Liability has been amended to exclude intangible property damage. Not Covered under General Liability

~Network Security Breaches…Not Covered because they have not purchased coverage ”

If you would like more information about cyber liability and data breach, Click through here for the GBW Insurance page, or call us at 1-800-548-2329.  Or click the Mandelbaum, Salsburg link above.

Cyber liability insurance policies

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A quick thought: Did you know that cyber liability insurance coverage is highty variable from one insurance carrier to another?

And not just in what limits they allow or how much they charge. The actual coverage is variable. This is not a settled field of insurance so each company is crafting its own list of what’s covered and what is not. This is important. How broadly your insurance carrier crafts the wording, or interprets claims can make a huge difference if you actually have a claim made against you.

While this is still evolving, at a minimum have your insurance advisor show you the coverage in your existing policies.

Social media policies and the NLRB…

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The Acting General Counsel of the National Labor Relations Board recently issued guidance on Social Media Policies in relation to the National Labor Relations Act.  You will find the link to the actual document by clicking here to go to the NLRB site and going to document OM 12-59.

Sadly, the guidance appears to be that employers can not restrict employees’ behavior on social media or in disclosing confidential information. 

Presumably you can carve out a safe policy by making it clear that your restrictions don’t apply to issues subject to the National Labor Relations Act.   You should see your labor legal counsel if you have one, making sure your employee handbook and any other documents are in compliance.  But employers are on the spot with this since the NLRB (especially recently) takes the path of the negative Socratic dialectic in issuing guidance.  That is, you advance an idea and I tell you what’s wrong with it, but I never tell you what would be right.  (Many philosophers have argued that there were some good reasons to kill Socrates.)  

We’re not going to give you labor law advice.  There’s an excellent legal summary of this mess, available through the link at the bottom of this article.  But you should also take a look at your employment practices liability insurance (EPLI) and talk with your insurance advisor about what’s covered.  Or call us at 1-800-548-2329.

Here is the link to an alert from Bressler, Amery, & Ross. Excellent write-up of the problem.  Bressler Social Media and NLRB

Cyber Liability

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What’s your business cyber liability?

This may not be obvious: If you’re a small retail operation (think of your local bakery), and you capture clients’ kids’ birthdays to send out discounts or other contacts, you have an exposure.

If you capture credit card info, the exposure is obvious.

For advice, information, comparisons, call us at 1-800-548-2329.

For a survey of other businesses’ responses, connect here: Risk and Insurance TV