Key Coverage Areas

Mesirow Financial has extensive experience placing security and privacy liability coverages. Some of the key coverage areas include:

  • Security and Privacy Liability – Covers loss due to the failure to protect and/or the wrongful release of confidential information, including employees, customers, clients and vendors

  • Notification Costs – If a breach of confidential information may have occurred, state laws require that you notify all parties that may have been affected by the potential breach. Also provides credit monitoring services to the potentially-affected individuals. The average notification cost is $20 to $25 per person

  • Regulatory Defense Costs – Covers defense costs related to regulatory actions brought by agencies such as the FCC or FTC alleging violations of state and/or federal privacy laws

  • Cyber Extortion – Covers loss due to the failure to protect and/or wrongful release of confidential information that results in a third-party making monetary demand with the threat that said confidential information will be released if monetary demands are not met

  • Crisis Management – Covers costs of hiring public relations firms and crisis management consultants to help mitigate any potential damage done to the reputation of the affected organization

  • Legal and Forensic Expenses – Covers costs of hiring various specialists to investigate the breach and determine the severity as well as what has to be done in order to comply with various state laws, such as forensic experts, consultants and attorneys