Data Security Liability Insurance
A great deal of responsibility is required for someone in a data management position, such as an IT manager, CIO, or PCI auditor. They are responsible for private and valuable company information, as well as very detailed customer information in some cases. However, with access to highly important and sensitive information, they also run the risk to have to defend themselves in a fraud case. For this reason, it is extremely important to have data security liability insurance.
Security fraud is a very serious and dangerous act. Companies, as well as individuals, may be put at stake for informational and identity theft even if they personally didn’t do anything wrong. Since you can’t always control what happens, such as a network breach, it is necessary to have a defense policy in place with a custom data security manager liability plan to stay protected in the event that a civil lawsuit seeking monetary damages is filed against you.
Authored by Rick J. Lindsey, President, Chairman, and CEO of XINSURANCE
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Rick J. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick J. Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick J. Lindsey discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Rick J. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick J. Lindsey to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. XINSURANCE also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are XINSURANCE can help.
