CYBER LIABILITY

This type of insurance covers your business’ liability and additional expenses for a data breach in which your business information is exposed, stolen, or held ransom. It is designed to cover a blend of liability and additional business costs.

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Third-party claims (people sue your company or make claims against you). Common costs include:

  • Legal defense, settlements and judgments, negligence, failure to maintain security procedures
  • Network Security and Privacy Liability: consumer data breach, unauthorized access, destruction of data, viruses/malware, social engineering (phishing)
  • Communications and Media Liability: copyright/trademark/logo infringement, plagiarism, defamation or disparagement, libel and slander
  • Regulatory claims

First-party claims (direct costs to your company to respond to a breach). Common costs include:

  • Legal advice, notification costs of communicating the breach, forensic investigation, funds transfer fraud, cyber extortion, cyber terrorism, public relations expenses, travel expenses to mitigate damages, crisis communications, and setting up a call center.
  • Privacy Event Expenses: covers breach of physical records, rogue employees, loss of laptops or USB drives.
  • Business Interruption: covers loss of profits and extra expense during the time your network is down. Although your business may have Business Interruption coverage as part of your property coverage, cybercrimes are often excluded.

Multiple insuring agreements are available and can be assigned limits and deductibles to suit your individual business needs and exposures.

ADDITIONAL PRODUCTS

Commercial Auto

Provides Automobile Liability and Physical Damage coverage for “autos” used in your business. “Autos” can include cars, trucks, vans, trailers, or other vehicles designed for use on public roads.

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Commercial Package / Business Owners Policy

Commercial Package / Custom coverage that combines two or more coverage forms, such as: Property, Liability, Business Auto, Inland Marine, and Crime.

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“What our clients say”

“The Goodman Venegas team has developed, presented and/or assisted in the implementation of several innovative, cost-saving insurance strategies for our business. Additionally, Goodman Venegas outperformed three competitors during our recent policy renewals in the areas of cost, delivery, quality and overall performance. We have worked with several members of the team as well as both principals and have found each of them to be professional, well-trained in their area of expertise and extremely responsive.”-Debbie Mack, CFO-RCO Engineering (Roseville, MI)