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Cyber Security

With over ten million individuals experiencing some form of identity theft in the past year alone, the importance of prevention is more important than ever - especially as it relates to your business. Stolen lap tops, compromised firewalls, missing data tapes and countless examples of breaches of corporate security have given rise to more and more concern about protecting information stored online.

Insurance policies may offer some relief from the cost of professional assistance in re-establishing your business credit and identity. The amount of information provided via the Internet, telephone and other modern means of communication make guarantees of prevention difficult. However, there is no coverage or solution for recovering the time needed to reverse the damage. The Federal Trade Commission estimates that the average victim of identity theft will expend over 600 hours to clear his or her company. The estimated time for full recovery is 14 to 16 months.

The "soft" costs associated with recovering identity are not transferable. Consequently, the best advice is to create a plan that mitigates the potential for a loss to occur - and be prepared. Your trusted Corporate Risk Solutions specialist can help you prepare for a situation such as this through practical applications to help you protect your company.

Contact a Corporate Risk Solutions Specialist today info@underwritingpros.com .