FGIB:Covering Cyber Risks with Insurance Designed to Respond
In the wake of continued escalations in phishing and denial of service attacks and the latest threat of data sabotage (manipulating data such as financial records, bank account data, stock market information or companies’ financial results for financial gain) impacting the financial industry, comprehensive insurance coverage for cyber attacks and privacy breaches is a necessity. Furthermore, U.S. regulators have stepped up oversight and expectations for multiple layers of security and obligations to notify national regulators of significant cyber attacks or data breaches.
Financial Guaranty Insurance Brokers (FGIB) provides community banks, commercial lenders and Financial Technology (FinTech) companies with robust Cyber Liability/Network Security Liability insurance solutions to respond when a cyber threat occurs. We also offer Cyber coverage to a wide range of small and mid-size companies.
When purchasing Cyber coverage it’s imperative to carefully review your insurance policy to ensure that the scope, limits, and sub-limits of the coverage are appropriate. This is what our professionals at FGIB will do for you.