Provide peace of mind by offering Cyber Liability insurance.Highlight Fact Sheet
Cyber Liability is the risk posed by conducting business over the internet, over other networks, or using electronic storage technology. Premiums are affordable, often below $500 for many business owners. Cyber Liability insurance is designed to mitigate losses from a variety of cyber incidents:
Through a partnership with McGowan Program Administrators, Mercer Consumer has developed an integrated insurance and risk management program for Cyber Liability. The program offers access to human resources and data management related services which provides superior products and services through a simplified process.
1. Click on one of the blue “Get A Quote” buttons that best describes your occupation.
2. Select from the drop down menu to access the online application.
3. Limits up to $1,000,000 are available online.
Once your application has been approved, you will receive an email with a link to pay the premium. Next, the policy will be issued and emailed to you.
See the Financial Professionals section for the following professions: Accountants, Investment Advisors and Security, Commodity Brokers and Services.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
If my firm purchases E&O coverage, wouldn’t this policy protect us in the event of a cyber or privacy breach?
This is often a misconception by policyholders and we find that the majority of errors & omissions policies do not cover cyber or privacy breaches. An E&O policy typically limits coverage to claims arising from negligence in the performance of specifically defined services and excludes coverage for criminal or intentional acts of insured’s or their employees.
What are my obligations in the event of a breach to report such and to whom?
47 of 50 states require a breach to be reported to those affected if any personal identifiable information (PII) is leaked. Any company who does not report these breaches is subject to hefty fines and penalties from various state and industry regulators. If you are a firm servicing clients in multiple states, a single breach can be a costly in just legal expenses to translate the requirements of each state's law. Having the proper Cyber Privacy Liability coverage in place can provide assistance and help cover these expenses.
How can I learn more about the insurance products offered by Mercer Health & Benefits Administration LLC and how they can best serve my insurance needs?
For more information or to speak with a Client Representative, please contact our office at 1-866-486-1946.
Financial Professionals include Accountants, Investment Advisors and Security, Commodity Brokers and Services.
Theft of Digital Assets
Theft of Digital Assets
Cyber Extortion Threat
Approximately every 3 ½ seconds a new threat is unleashed by cyber criminals into the online world of the internet.2 These criminals can range from middle schoolers who vandalize websites to international terrorists who target a country’s defense infrastructure.
Businesses face increasingly complex information and computer security risks. If you house or store client confidential information of anything defined as Personally Identifiable Information (PII), cyber criminals have an interest in your stored data files to target, breach and obtain such information.
The Cyber Privacy Liability policy available through Mercer Consumer, a service of Mercer Health & Benefits Administration LLC, has been tailored specifically for our policyholders and is not available outside our network.
2 “Cyber Security Statistics—Numbers Small Businesses Need to Know,” Matt Mansfield, January 3, 2017.