Griffin Underwriting Services is pleased to announce that it has joined forces with RT Specialty effective January 3rd, 2023.

Data breaches happen every day, and the costs associated with a compromise of confidential data add up quickly and are a real business risk worth considering today. At Griffin, we represent several carriers, some with very innovative underwriting approaches, risk assessments, and ongoing risk management to help your clients protect against cyber risk.

Product Features

Can cover liability and first-party coverages
Cyber risk assessments may be available
Coverages available:

  • Network/Security Liability; coverage for claims arising from unauthorized access to data, failure to provide notification of a data breach where required by law
  • Media Liability; coverage for claims arising from copyright infringement, plagiarism, libel/slander in electronic content
  • Computer Fraud; coverage for loss of money, securities or other property due to computer virus or unauthorized access
  • Crisis Management Expenses; coverage for public relations services to mitigate negative publicity
  • Regulatory Defense Expenses; coverage for governmental claims made as a result of network, security, communications, and media liability
  • Systems Business Interruption; coverage for loss of income or expenses as a result of a computer system disruption caused by a virus or unauthorized computer attack, etc.
Why buy Cyber insurance?

Hacking incidents are the most recognizable & expensive cause of data loss but are not the most common:

  • 40% are caused by people making mistakes, such as losing a laptop or flash drive
  • 36% are system glitches
  • 24% are malicious criminal attacks

Average cost of incident per customer is over $200. Costs may include:

  • Customer notification & support
  • Forensic research & data recovery
  • Credit monitoring
  • Legal fees
  • Public relations
  • Technology changes & staff education
  • Reward & extortion expenses
  • Replacing stolen funds or securities
Eligible Risks

Most businesses have the legal duty to notify clients or patients in the event of a data breach. High risk businesses include:

  • Healthcare
  • Retail & Wholesale
  • Insurance Agency
  • Educational Organization
  • Law Firm
  • Community Bank
  • Childcare
  • Hospitality

Quoting & Applications

Log in to obtain applications, additional info, or quote online.
*Coverage may not be available for all accounts or in all states
*Applications will apply to most markets but in certain circumstances additional applications may be needed
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