Columbus, Ohio (March 20, 2013) – With nearly every business collecting personal data from customers, the threat of a data breach is high, and could be devastating to the business. More than 150 million personal records are lost or stolen each year, from credit and debit account numbers to driver’s license information and Social Security numbers. And more than half of all small businesses have experienced a security breach of some sort.
The State Auto Insurance Companies have created Data Compromise Plus to address this growing coverage need. And, while this product isn’t brand new to the industry, Data Compromise Plus is different. Besides providing coverage for the insured’s response expenses, Data Compromise Plus also automatically includes coverage for defense and liability and identity recovery, coverages not always available elsewhere.
“Any business that possesses personal data on clients, employees and others that can be stolen, electronically ‘hacked’ or lost through an accidental or inadvertent release, needs Data Compromise Plus,” said Vice President/Director of Business Insurance Charlie McShane. “Data Compromise Plus can be added to any eligible State Auto business insurance policy to protect our customers from these data breaches.”
Unique coverage benefits include:
- Response Expense – pays for the costs of:
- notifying affected individuals of a data breach
- providing affected individuals with a suite of services to help deal with the breach
- legal and forensic information technology reviews
- Defense and Liability – responds to legal actions brought by affected individuals as a result of a breach of their personal information; i.e., if one of our insured’s customers sues our insured
- Identity Recovery – provides services and reimbursement for costs should a data breach result in theft of the business owner’s identity
In addition to all these important coverages, Data Compromise Plus also gives State Auto customers free access (via www.stateauto.com) to the eRiskHub website, which provides users with information and helpful tools to help manage the data breach exposure.
Data Compromise Plus is now available through local State Auto independent agents.
State Automobile Mutual Insurance Company, headquartered in Columbus, Ohio, is a super regional property and casualty insurance holding company and is proud to be a Trusted Choice® company partner. State Auto Mutual is part of the State Auto Group. The State Auto Group markets its insurance products in all 50 states and the District of Columbia through independent insurance agencies and brokers. The State Auto Group is rated A (Excellent) by the A.M. Best Company and includes State Automobile Mutual, State Auto Property & Casualty, State Auto Ohio, State Auto Wisconsin, Milbank, Meridian Security, Meridian Citizens Mutual, Patrons Mutual, Litchfield Mutual Fire, Rockhill Insurance, Plaza Insurance, American Compensation and Bloomington Compensation. Additional information on the State Auto Group can be found online at http://www.StateAuto.com.