Could your agency weather a data-security breach?

Only 20 percent of businesses that experience one will survive

​​​​IIABSC has partnered with Arlington/Roe & Co., Inc. to offer members an exclusive program to help protect their agencies from data security breaches. It offers the following benefits:

  • IIABSC/IIABA members only
  • No encryption required
  • HIPAA compliance tools
  • Step-By-Step compliance procedures 
  • Newsletters on data security management
  • Data-breach coach to help with notification
  • Forensic investigators
  • Privacy counsel
  • Call center
  • Credit restoration services
  • Staff training programs
  • Regulatory fines and penalties coverage
  • Public Relations coverage
  • Notification costs outside liability limits
  • Credit monitoring
  • Security & privacy liability

​​Responding to a data breach is a costly and complicated process requiring assistance from many different professionals. The average cost of notification-law compliance is $200,000, and failing to notify affected individuals “without unreasonable delay” could cost your agency up to $1.5 million in fines. 

All that with the legal liability and the reputational harm caused by the breach, and it's not hard to understand how 80 percent of businesses that experience a data breach end up going out of business as a result.

Causes of the 563.9 million records breached since 2005:

56%  Hacking or malware – Electronic entry by an outside party.

30%  Portable device – Lost, discarded or stolen laptop, PDA, smartphone, portable memory device, CD, hard drive, data tape, etc.

6% Insider – Someone with legitimate access intentionally breaches information, such as an employee or contractor.

4% Unintended disclosure – Sensitive information posted publicly on a website, mishandled or sent to the wrong party via email, fax or mail.

1% Stationary device – Lost, discarded or stolen stationary electronic device such as a computer or server not designed for mobility.

1% Payment card fraud – Fraud involving debit and credit cards that is not accomplished via hacking. For example, skimming devices.

1% Physical loss – Lost, discarded or stolen non-electronic records, such as paper documents.1% Unknown/ other.​


For more information, contact:

IIABSC Director of Member Services

Cyberliability policy to help your agency stay in business after a data security breach.

View pricing sheet

View data security risk management tools for policy holders

Download application

Read article in SC Agent & Broker magazine​ (Fall 2014)

The following increases your agency's cyberliability exposure:

  • Employees
  • Keeping employee records
  • ​Client records containing third-party corporate information (like company financials)?
  • Personal lines business
  • Premium financing business
  • Computers, back-up tapes, a copier, a fax machine