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Insuring Clients Against Privacy Losses

Hackers, identity thieves and lawsuits are making big headlines--and offering agents ample opportunities to discuss coverage needs, especially with clients in the miscellaneous professional liability category.

By Paul Miskovich, Edward Seidl | Updated on July 20, 2011

The risks are evident. Private information of all kinds—personal, financial, medical—resides on the computers of nearly every business. Hackers and identity thieves increasingly are compromising system vulnerabilities, seeking to break in and exploit the details.

Hacking has been generating high-profile news lately. Citigroup warned 360,000 credit card customers that some of their account data was compromised. AT&T apologized to 114,000 new iPad owners, including celebrities, after hackers leaked their email addresses to an online gossip site. Privacy breaches, both accidental and criminal, are increasing steadily, along with their costs.

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