The major reason for properly securing and insuring company databases, systems, intellectual property and other sensitive business assets is simply “exposure to severe financial damage” to both large and small company operations. When a cyber breach is detected, the first order of business is assessment of loss in terms of scope and severity. Security procedures, training, legal assistance and communications all play a big role in managing and mitigating the breach consequences. Technical as well as legal analysis immediately is a major corporate priority. McGowan’s cyber insurance products offer sophisticated policies backed by highly trained vendors and legal advisors for both large and small company operations.
McGowan defines small entities as companies with less than 50 employees and less than $10,000,000 in annual revenues. These exposures require a shorter application or a SmartApp form available on this website (see options on the left side of this page). McGowan also uses domestic and international A.M. Best “A Rated” carriers as well as the London markets, as needed.