Cyber for Banks and Financial Institutions

From automated tellers and credit card processing to online and mobile personal banking portals, technology has changed the financial customer’s experience. However, the risks can be significant. Specialized Cyber insurance for banks or other financial institutions is now available from the Cyber experts at Risk Placement Services.

Ask your client, “If your Financial Business experienced a sizable data breach...”

• Who would you call?

• How would you organize an immediate response?

• How would you pay for it?

• Who will do your job while you respond to the crisis?

Coverage Solutions • Privacy Liability

• Privacy Notification Expense

• Regulatory Liability

• Media Content Liability

• Network Security Liability

• Crisis Management

• Credit Monitoring Expense

• E-Extortion Threat & Ransomware

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Why RPS? • Expertise in insuring financial services related businesses

for Cyber Risk

• Exclusive policy forms and endorsements

• One submission, multiple markets

• 50-state capabilities

• Competitive commissions

moc.sniSPR@sU_tcatnoC :hP 3148.595.668 • :xaF 7265.182.084

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SECIVRES TNEMECALP KSIR

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Claims Scenarios

1

Hacking A CPA in Santa Rosa, CA notified customers of a data breach when the company noticed unauthorized access to its servers containing personal data including salary information, Social Security numbers and names and addresses.(California State Attorney General’s Office)

2

Stolen Data Device Pioneer Bank, New York, NY reported an employee laptop was stolen from an airport. The laptop included personal information of mortgage customer accounts. Names and addresses, Social Security numbers, bank account numbers and financial data were taken. (www.scmagazine.com)

3

Intentional Data LeakA disgruntled Morgan Stanley employee stole the customer information and account numbers of approximately 350,000 clients. The employee posted the personal information of at least 900 customers before being caught by the FBI. The company was fined $1million by the Securities and Exchange Commission. (www.bloomberg.com)

4

Malware AttackOmni Hotels & Resorts’ corporate headquarters reported network malware attacks at point-of-sale systems at multiple Omni properties. The malware was designed to collect cardholder names, numbers, security codes and expiration dates. (CNBC Network, New York, NY)

SECIVRES TNEMECALP KSIRmoc.sniSPR@sU_tcatnoC

:hP 3148.595.668 • :xaF 7265.182.084 moc.sniSPR