In today’s digital society, data breaches are becoming much more common. Although Cyber Security Professionals are quickly trying to surpass hackers, they are not always effective. Software vulnerability, human error and sophisticated phishing scams enable hackers and thieves to be successful. Identity Theft Resource Center reported that the top three (3) industries impacted most by data breaches are the Business sectors, Medical/Healthcare field and Bank/Credit/Financial industry. In 2018, there were 1,244 breaches reported. While that represents a decrease of 23% from the previous year, the number of records exposed in 2018 increased by 126% over 2017. Hacking was reported to be the most common fraudulent act in 2018 exposing 482 breaches and 16 million consumer records.
The internet is an indispensable tool assisting in so many ways, from reaching new customers to providing cloud storage tools for business data and information. But being constantly connected increases the risk of online theft, fraud and abuse. Businesses and consumers both have to be responsible for data security and protection. It’s crucial for businesses to incorporate better measures to protect their data to reduce the risk of theft and stay ahead of the hackers.
As many of us know, thieves are consistently learning, communicating and upgrading technology to continue to be successful in their schemes and we need to do the same. When a breach occurs, time is of the essence. Having a breach response plan in place can help you efficiently and cost-effectively respond to and recover from the breach. How can Berkley FinSecure help its customers?
Berkley FinSecure’s Management Liability policyholders that purchased the Electronic Banking Liability or Electronic Business Liability option will receive complimentary access to the CYBER Carry-Thru portal, powered by NetDiligence®. CYBER Carry-Thru is a private, mobile-friendly website that provides tools and resources to help you understand your exposures, establish a response plan and minimize the effects of a breach.
At Berkley FinSecure, we don’t just stop with the policy – we have the resources and services that “carry through” after the policy is written. We have a commitment to be there when you need us most!
Experts Focused On Your Protection. We Deliver.
Contact any one of the FI insurance experts below for help in making sure your FI customers have the right coverage from a strong, stable company!
|Senior Vice President, Chief Field Operations and Business Development Officer
Joseph Gresia, Jr.
|Great Lake Regions