From data breaches and denial of service attacks to theft of credit card data, retailers face a number of cyber risk exposures. The increase in e-commerce has made retailers more attractive targets for cybercriminals. In one example, a ransomware attack shut down the cash registers of a supermarket chain, forcing all 800 of its stores to close for a week in July 2021.
Coalition's cyber insurance is specifically designed to help retailers, both online & offline:
- Coverage for technology errors & omissions.
- Coverage for consequential reputational harm losses and media and PR costs to respond to an incident.
- Enhanced coverage for denial of service (DDoS) attacks that impede legitimate traffic to the policyholder's business.
- Costs to replace computer systems and other technology damaged in a cyberattack.
- Costs to respond to a ransomware incident.
- Funds transfer fraud losses arising from a security failure or social engineering.
Coalition's proactive cybersecurity platform saves your client time, money and headaches. By offering a full suite of security apps including 24/7 security monitoring, automated threat and intelligence alerts, DDoS mitigation, security benchmarking, ransomware protection, employee training, patch reminders, and more—included with each policy at no additional cost—Coalition helps retailers protect their network and their business.
When an incident happens, Coalition is the only insurance firm with a dedicated 24/7 incident response and claims team to help retailers quickly respond to an incident.
Ready to protect your retail customers? Log in to Big “I" Markets and create a quote in less than four minutes! Contact Carla McGee, your dedicated cyber insurance program manager, with any questions or to be walked through a quote.