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Cyber Liability/Data Breach

You've Had a Data Breach! What do you do?! What's THAT Going to Cost You?!

Well, in a word. A LOT! First, you should know that roughly 72% of all data breaches occur at small to medium-sized businesses. Furthermore, slightly more than half of small to medium-sized business have suffered a data breach. But you only hear about publicly broadcast ones like Home Depot, Target, or Anthem "newsworthy" breaches.

When you've been "hacked," the law imposes specific notification requirements upon you. In an actual case, a health care practice had a data breach and the personal information of nearly 5,000 patients was stolen. This is only one example. Such a breach can occur in any type of business where client "PII" (personally identifiable information) exists such as name, address, driver's license, social security number, bank account numbers, client financial statements, credit card numbers, etc. etc.

What might this cost you, based on 5,000 breached client records?

Internal Investigation Costs:
Hiring a Cybercrime consultant:
Attorneys fees:


Notification/Crisis Management Costs:
Customer notification by Certified mail:
Call Center support:
Crisis Management Consulting:
Media Management:


Regulatory Compliance Costs:
Credit Monitoring for customers:
Regulatory Investigation Expenses:
State & Federal Fines/Fees:


Grand Total:


The insurance industry has several "CyberCrime," "Data Breach Response," and "Cyber Liability" products that Horizon Agency can offer if you have this gap in your current insurance program.

How much coverage might you need? Perhaps the following websites might assist you in further assessing your company's exposure:


Contact your Horizon Agency professional to learn more, or to obtain a quote for this very important protection. Or, do you have an extra $800,000 just lying around in case, or for when, you get "hacked?"