Cyber Risk

A recent study estimated that a single data breach, on average, costs a U.S. business nearly $6 million dollars in first party losses and third party liability. With new reports of cyber attacks on a seemingly daily basis and the diversity of business risks exponentially evolving – from property damage claims to business interruption and director and officers exposures –  cyber risk has quickly become a mainstay of corporate risk transfer strategy for all industries. SDV works with corporate, non-profit, and public sector clients and brokers to assess an organization’s cyber-related risk by proactively reviewing and assessing coverage under traditional and cyber specific insurance policies to identify potential coverage gaps. In the event of a loss, SDV’s experienced litigation team will step in to assess and maximize recovery under the policy.

Potential Risks:

First Party Losses

  • Data Loss and Restoration Expenses
  • Notification Costs and Credit-Monitoring Services
  • IT/Forensic Services and Expenses
  • Lost Income, Productivity, and Business Interruption Expenses
  • Crisis Management and Public Relations Expenses
  • Criminal Extortion, Theft, and Fraudulent Transfers

Third Party Liability

  • Privacy and Network Liability
  • Regulatory Liability
  • Media Liability
  • Technology Errors and Omissions

Some of our clients/business partners include:

  • PRISM International (as Amicus Curiae in Federal v. Recall Total Information Management)
  • Hospital for Special Care
  • Western Connecticut Hospital Network
  • University of Connecticut
  • RailWorks Corporation
  • Turner Construction Company
  • HUB International Northeast
  • Willis
  • Aon
  • Various professionals that handle sensitive information of others (lawyers, physicians, financial institutions)

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