Cyber Liability and The Santa Fe Insurance Agency

Insurance specialists are busy understanding the unique challenges of designing, implementing and managing an effective risk management strategy for public officials who are tasked with protecting public assets against ever growing liability and property exposures.

We live in an age where we now have an increasingly complex regulatory environment and shrinking budgets that further hamper the ability of these entities to properly perform their duties. There are literally hundreds of municipalities that face these types of challenges every day. They must deal with safeguarding against risks and exposures that could result in hefty fines or large legal settlements. There is a local SaInta Fe insurance agency ready to help these community leaders deal with the issues at hand and find viable solutions to their concerns.

Adding cyber threats to the list of problems

Like many other businesses, hackers have targeted public entities. This is due to the fact that they hold a lot of private information of clients and employees. They are targets, not only for those that want that information to sell, but there could be political motivations involved in the desire to hack a public entity.

Regardless of the reason, cyber exposures pose a serious threat to public entities, and a Santa Fe insurance agency can provide a cyber liability policy to meet any concerns about an intrusion of this type. With so much equipment in use these days, such as waste treatment systems and other types of utilities, an attack can literally shut down your operations for days or even weeks. Practically every device or system can be accessed through your network or the Internet, so insurance is a great way to help mitigate any risk.

Further complicating matters is the fact that public entities are subject to the Freedom of Information Act, which means they must comply with legal requests for information.

While many agents and their clients are concerned about a hacker illegally accessing public entity systems and stealing information, perhaps their biggest concern is actually the failure to redact. Public entities must respond to a legal request for a release and often wind up voluntarily putting out information that could be compromised. Ask a Santa Fe insurance agent about the best way to insure against issues of a breach.