I know this is a little off topic as regards CPA professional liability insurance but cyber attacks are increasing in frequency and size (dollar value). At least monthly (and some times more) we receive calls from panicked firms because of a cyber attack.
Good risk management is the best way to reduce the impact of cyber attacks. Securing comprehensive cyber coverage – which itself may offer complimentary risk management resources – is prudent.
But there are many insurance options available and each policy is unique, that is very tough to determine what is the best option for your firm. How do you know your get the best coverage for the dollars spent?
To alleviate this problem (a little) we wrote an article about how to compare cyber policies which is being published by Cyber Defense Magazine. We also developed a checklist which may assist you to evaluate the policy you are offered. The checklist is here.
Jorgensen & Company are not attorneys and do not offer any form of legal advice. Consult with appropriately qualified local counsel for more assistance. Rickard Jorgensen is President and Chief Underwriting Officer for the CPAGold™ program and may be contacted at (201) 345 2440 or firstname.lastname@example.org
- The Most Expensive Insurance Policy is Always the Cheapest One.
- Professional Liability for CPAs Understanding your coverage – Part II – the declarations page
- Professional Liability for CPAs – Understanding your coverage – Part I – the insurance application
- Gotcha! Three cyber policy traps to look out for (and a postcript to the CCH hack)
- Coverage for independent subcontractors via the CPAGold™ program.