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relations , and credit monitoring .
• Third-party coverages . For expenses incurred when a lawsuit is brought against your client because of a third-party ' s stolen information .
• eCrime coverage . For expenses resulting from various types of fraudulent activity , such as telephone fraud , funds transfer fraud , and social engineering .
In addition , a cyber insurance carrier will most likely provide your clients with education and risk mitigation tools to enhance their cyber posture . These typically include access to breach solutions information , incident response planning roadmaps , current privacy and security systems assessment , and employee policy templates . These
services would cost small businesses thousands of dollars , but carriers often bundle them into their cyber coverage at no extra charge .
No small business is immune from cyberattacks , and all data is at risk . Prevention , preparedness , and insurance offer the best means of helping your small business clients protect themselves from a cyberattack as well as recover from one .
Jeff Weaver is assistant vice president of management liability insurance at Selective Insurance .
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RESOURCE TIP Big " I " offers access to Coalition for your agency and your clients needs . Learn more at bigimarkets . com / coalition-cyber
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