Marshall and Sterling

Statistics

• McAfee* reported the identification of 60,000 new malware samples per day in 2010. A 275% increase over three years.
• A Criminal organization that operates Koobface has nearly 22,000 Facebook accounts (935,000 friends), over 350,000 Blogger accounts, and over 520,000 Google accounts as of late 2010.*
• Over 200 billion emails are sent every day.
• Employees are receiving 100’s of e-mails a day.
• Employees do not scrutinize every e-mail thoroughly before clicking an attachment or link.
• Spear Phishing is increasing and targeting every employee from the CEO to the college intern.
• IT can deploy anti-virus and malware filters but these only protect against known attacks.
• Spam uses up storage capacity, bandwidth speed and employee productivity.
• Spam and Malware can enter by Internet, e-mail, VoIP, smartphones, social networks, IM, Cloud, etc.
• Cloud is making businesses more vulnerable because IT controlled barriers are disappearing.
• According to Ponemon’s “2010 Global Cost of a Data Breach” report, the average per record compromised cost is at $214, or an average of $7.2M per incident.
• 89.1% of emails in 2010 were Spam

(*Source - Ponemon Institute, 2011)
(Source– Symantec.cloud)

Coverages to consider...

Network Security Liability:
Provides Coverage for actions that the Insured is legally liable for claims made against the Insured for a Network Security Breach.

Privacy Liability:
Provides coverage for actions that the Insured is legally liable for claims made against the Insured for a Privacy Breach.

Media Liability:
Provides coverage for actions that the Insured is legally liable for claims made against the Insured for a Media Peril of content on the Insured’s Internet Site.

Professional Liability:
Provides coverage for  acts, errors or omissions in the rendering or failure to render professional technology services to a client of the Insured.

Breach Notification Coverage:
Provides coverage for costs and expenses associated with the notification to individuals whose Personal Identifiable Information or Protected Health Information has been breached pursuant to federal, state or foreign Breach Notification Laws.

Regulatory Coverage:
Provides coverage for actions/proceedings against the Insured by agency resulting from a violation of a Privacy Law.

Crisis Management Coverage:
Provides coverage for costs and expenses incurred by the Insured for a public relations firm, law firm or other expenses to communicate with the general public in order to mitigate reputational damage.

Network Interruption Business Income & Extra Expense Coverage (Loss Time & Revenue):
Provides coverage for the Loss of Income and expenses incurred to reduce Loss of Income, minimize the duration of a network Interruption, Forensic Expenses, Loss of Data due to a Network Attack/Denial of Service Attack.

Cyber Extortion Coverage:
Provides coverage for costs and expenses related to a Cyber Extortion Threat, including a threat of a Denial of Services Attack, Dissemination of Private Information.

Credit Monitoring Coverage:
Provides coverage for costs and expenses incurred by the Insured to offer credit monitoring services to parties impacted by a Privacy Breach.