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Is your business well-positioned to deal with Cyber risk?
Why You Need Cyber Insurance
What’s The Point Of Insurance & Insurance Agents?
Why Choose Team & Total?
Because we are a new company with fast, modern technology, but we are also industry veterans with decades of experience.
- We have unique access to special programs others don’t.
- We help you optimize price, coverage, and claims.
- We make complex coverage problems very simple.
- We handle the time-consuming stuff you don’t want to do.
- We advocate for you when you need us most.
Real Clients. Real Reviews. Real Coverage.
“Dave Evans recently reviewed my business insurance policy that I have with another company. His candor and attention to detail was excellent. He suggested that I keep the insurance I have based on my unique small business. He also spent considerable time advising my husband and I on other personal policies. I found the Team & Total experience nothing short of professional and thorough. I would easily recommend them.”
– Jean H, Business Owner, Ridgewood, NJ
“Dave, I can’t thank you enough for taking the time to explain my options to me…I promise you I will not forget your sage advice nor the time you took to walk me through everything.”
– Emerson M, Transportation Company CEO, West New York, NJ
“Eric and Melonie are the greatest! They helped us get through a lot of changes and questions about our policy and worked hard to get us the best deal. Above all else – they are a team you can trust!”
– Carolyn B, Retail/e-commerce business owner, New Jersey
“Eric and Dave were great at answering an insurance question we had involving Workmen’s Comp at our not-for-profit tennis club. They were knowledgeable, eager to help and provided keen insight. I would recommend them to anyone needing a ‘second look’ at their insurance needs.”
– Peter M, Non-profit president, New Jersey
“Eric and Dave are truly experts and I have enjoyed my conversations with them. I recommend working with them – they are best in class.”
– Ari T, Healthcare business CEO, New Jersey
“A terrific team that helped us very promptly with rather complex needs for commercial, cyber, and other types of coverage. Were helpful in saying what coverages we had that were already good and what needed changing. Very easy to work with and very professional.”
– Robin H, Financial technology business owner, New Jersey
Click it. Read it. Cover it.
Get a glimpse of the risks you face and how your insurance can protect what matters most.
Cyber Liability Coverage
The Internet has spun a whole new web of liability exposures. E-commerce, social networking, cloud storage, and other technologies bring great benefits to large and small businesses alike. But with these benefits also come challenges, including protection of privacy, data, and financial information of your customers. If this information is lost, stolen, or compromised, your company is at risk. In fact, you may even be required by law to alert those impacted by the breach and to pay for any financial loss incurred.
Cyber liability coverage offers protection due to unauthorized access of electronic data or software within your network. It also provides coverage for spreading a virus, computer theft, extortion, or any unintentional act, mistake, error, or omission made by an employee. This coverage is quickly becoming more and more important as you embrace technology to help run your business.
If your company is faced with a data breach or cyber-attack, you may be forced to cover breach-related expenses such as crisis management, hiring a public relations firm to manage a data breach incident, costs associated with forensic analysis, the cost of repairing and restoring computer systems if there is a virus that destroys business software and data, and the loss of business income resulting from a data breach.
First-party coverage will insure your business for losses to your own data or lost income or for other harm to your business resulting from a data breach or cyber-attack. This coverage will pay you for things like business interruption, the cost of notifying customers of a breach, and even the expense of hiring a public relations firm to repair any damage done to your image as a result of a cyber-attack. Having this funding available in the event of a crippling hack can keep the lights on till you’re able to resume your normal business operations.
What would you do if an email virus impacted the operation of your database and prevented you from serving clients for a day or more? Or what if a hacker or cyber-criminal caused a system outage or extended downtime, leaving your business inoperable? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.
Business interruption insurance compensates you for lost income if your company cannot operate as normal due to disaster-related damage that is covered under your commercial property insurance policy, such as data breach or cyber-attack. Business income insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
If your business handles sensitive customer data (such as email lists, credit card records or other files), data breaches pose a serious threat to your financial stability. A lawsuit resulting from a data breach means your business is responsible for paying legal fees, court-ordered judgments or settlements and other court-related costs.
Third-party coverage protects you in the event of a lawsuit brought by a customer or partner for a data breach that your business' actions or negligence allowed.
Regulatory Claim Coverage
If your business experiences a data breach or violation of confidential information during regular business operations, you may be found in violation of state or federal privacy laws and be required to pay fines for the violations or other regulatory issues.
You may be eligible for regulatory claim coverage which would offer protection in response to proceedings related to state disclosure laws and other governmental actions that can result in defense costs, fines and/or penalties. Coverage does vary and may be restricted by state law.
If hackers gain control of critical systems, they may demand a ransom be paid to avoid additional consequences. Sometimes these can be empty threats, but it’s impossible to know for sure. Paying the ransom can be costly. Taking a chance by choosing not to pay can sometimes put a company out of business.
Coverage for ransom and cyber extortion can be included in cyber liability policies and can help cover the cost of ransom to regain control of network systems. This is often not included in a standard policy, may include a separate sublimit and deductible, and may require adherence to certain conditions set forth by the insurer.
Cyber Liability Insurance 101
Make sure you cover the unique risks you face with cyber liability insurance.
- Click on the hotspots.
- Discover your risks.
- Get the right coverage.