New Cyber Risk Laws - Answering The Questions; What To Do & Where To Go?
What would you do if your agency had a data breach?
The vast majority of businesses that suffer a data breach fail to recover because they did not have a plan in place to deal with a possible breach. Responding to a breach is a complicated process that requires the assistance of many different professionals. Failure to notify the affected individuals without unreasonable delay could cost your agency up to $1,500,000 in fines from government agencies. Add this to the $200,000 average cost to comply with notification laws, the legal liability and the reputational harm caused by the breach and you can quickly see how this exposure can be devastating to your agency.
MIIAB offers coverage through Beazley with the following benefits:
Available to MIIAB Members Only
No Encryption Requirement
HIPAA Compliance Tools
Step-by-Step Procedures for Compliance
Data Breach Coach to Help with Notification
Credit Restoration Services
Up to 50% Off Premium
MIIAB Members Are Pre-Qualified for Enrollment*
Online Compliance Materials
Staff Training Programs
Expert Support Online
Regulatory Fines & Penalties
Public Relations Firm
Notification Costs Outside Limit of Liability
Security & Privacy Liability
*Some restrictions apply. Agencies over $5M in revenue, over 50% benefits or with prior losses need to be underwritten.
Links and Downloads
BINDING COVERAGE IS AS EASY AS 1...2...3...
1. Select your desired coverage limit based on your agency revenue using the "Data Breach Program Pricing" document above.
2. Complete the "Cyber Secure Application".
3. Email your completed application to Our Team