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Insureds Without Cyber Policies Risk Falling Into CGL Coverage Holes

Every day small, medium and large businesses are victims of cyber crimes committed by hackers. Many insureds think their comprehensive general liability policies will cover these security breaches, but they are wrong.

By Jordan Kurkowski | Updated on February 21, 2011

Every day small, medium and large businesses are victims of cyber crimes committed by hackers. There is a cyber liability exposure for every type of business operation—from “Mom & Pop” stores to multibillion-dollar corporations.

Some of the more widely publicized incidents include First Federal Savings Bank, which had $415,000 hacked out of a savings account, and Kaiser Permanente, a health care consortium, which was fined $200,000 for publicly posting 150 patient names and addresses. And these are just a few of the notable accounts. There are hundreds more instances that go unpublished.

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