Practice Risk Solutions

Cyber Security and Privacy Liability

An ever-increasing number of professionals are utilizing technology to communicate with clients and deliver their services. One of the consequences of tele-practice is an increase in cyber insurance claims, including those related to ransomware, social engineering, and other cyber attacks. 

BMS recommends that professionals who are responsible for maintaining and safeguarding confidential information consider purchasing Cyber Security and Privacy Liability insurance to address their increased risk and exposure. 

Should you or your business experience a cyber incident, in addition to coverage, this policy provides access to a Breach Response team who will assist with any necessary investigation and response services, which includes notifying impacted individuals. 

Other, sometimes overlooked exposures that are addressed by BMS’ cyber offering are:

  • Costs involved with a regulatory proceeding relating to the violation of a Privacy Law, including penalties (where insurable) 
  • Coverage for Business Interruption 
  • Coverage for “Cyber Extortion” incidents 
  • Third party liability for privacy breaches 
  • First Party data protection 
  • Website media content liability
Cyber brochure (PDF)