Insurance coverage for technology firms against data breaches that leak personal information under their control is now available from The Hartford Financial Services Group Inc., the company said.
The firm said it is adding first-party data privacy expense coverage with cyber-extortion expense coverage to its FailSafe suite of technology liability coverages as an endorsement to the FailSafe GIGA and FailSafe TERA policies.
The Hartford Financial noted that many states require companies to pay for notification and credit monitoring services for those affected by a breach and said a breach involving just 500 records could mean a cost exceeding $100,000.
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