Archives for November 2016

Cyber Liability


Digital security concept screen
Cyber liability in the recent past has become a common term to many. This term can be defined as the risk that an individual is exposed to when he/she transacts business over the internet, through other networks, or even through the use of modern electronic storage gadgets. Insurance can be purchased and “risk associated” security methodologies can be put in use to deter first and third party risks brought about by digital liability.

“First party” liability comes in when your own individual information is breached, for instance, a hack that results into exposing your own business secrets. “Third party” liability takes place when the clients’ or business partners’ details that you have vowed to keep confidential are breached. A good example is a hack that exposes a client’s financial statements.

A majority of businesses across the globe are taking a deeper thought over their cyber safety and security. This has been occasioned by incidents of information breaches by big business companies. Small business companies are particularly susceptible because their cyber security systems are not as advanced as big companies.

According to Verizon’s Data Breach Investigations Report of 2012, 70% of the victims were not specifically sought out due to their poor cyber security but rather were victims of exploitable weakness. Their database were easy to access. Evidently, insurance of both first and third party liabilities is very important in the modern day business world.

Importance of protection against cyber liability

Incidents of breaches can lead to massive losses of income as well as tainting individual or company reputations. A negative image may diminish a customer network base that will subsequently lead to little profit margins or in some instances losses. To avoid this one can procure a protection policy.

It is also in the public domain that some multi-billion business entities have been sued in courts and forced to pay hefty regulatory penalties, fines, and expenses due to third party breaches. Additionally, notifications expenses and computer money transfer frauds are other negative effects. These incidents have left many companies and individuals bankrupt within few hours or days without their knowledge. These occurrences can be avoided through the use of the right protection policy.

Typically digital policies cover both first-party and third-party liabilities.

First-party policy covers the following:

  • Forensic audit- involves the cost of hiring computer forensic experts hackerduring the first steps of suspicion of a data breach.
  • Business interruption and extra costs- it covers lost profits and extra costs occasioned by a data breach.
  • Computer and data loss costs-covers expenses of restoring lost information due to a hacker’s activities
  • Electronic fraud and theft protection- it covers the financial losses resulting from criminals who hack to steal money

Third-party policy

It covers the expenses of hiring lawyers, expert witnesses, and consultants to help defend your business from lawsuits by clients, shareholders and business partners who claim they have negatively been affected through exposure of their details.

Third-party policy coverage is also commonly sought after by many companies to offer defense against administrative and regulatory agency prosecutions, for example, the Federal Communications Commission. This policy covers punitive damages, penalties, and fines.

Give Thanks With A Grateful Heart


thanksgiving-feastThanksgiving is a wonderful time to be with family, celebrating with delicious, perfectly golden brown cooked turkey with all the trimmings. It’s a time of laughter, warmth and of course being thankful for all, and who you have in your life. In this time while we have a nice, warm house to celebrate, there are some that do not have a place to call their own. These individuals will be heading to a shelter to receive their thanksgiving feast. While we have so much to be thankful for, what a better way to be thankful for what we have than by helping others who are less fortunate?! Per the Phoenix Rescue Mission, last year alone, there were almost 26,000 individuals who experienced homelessness just in Maricopa County. There are many opportunities at homeless shelters, soup kitchens and food banks that you and your family can help during this time. The good news too is there are opportunities right here in the East Valley; Phoenix is not the only place that helps serve people experiencing homelessness.

Here is a list of places that would love to have you and your families:homeless

Remember to call ahead of time to ask any questions you may have and to see in what ways you and your families can help.

This Thanksgiving, here at CityScape, we would like to express our gratitude for your continued loyalty and for allowing our family to serve yours. Have a safe and fun Thanksgiving.