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Approximately every 3 ½ seconds a new threat is unleashed by cyber criminals into the online world of the internet. These criminals can range from middle schoolers who vandalize websites to international terrorists who target a country’s defense infrastructure.

The financial services industry faces increasingly complex information and computer security risks. If your firm houses or stores client confidential information or anything defined as personal identifiable information (PII), cyber criminals have an interest in your stored data files to target, breach and obtain such information.

It is often a misconception by policyholders that their Errors & Omissions (E&O) insurance policy covers cyber or privacy breaches. We find that the majority of securities broker-dealers’ E&O insurance policies do not cover cyber or privacy breaches. An E&O policy typically limits coverage to claims arising from negligence in the performance of specifically defined services and excludes coverage for criminal or intentional acts of insureds or their employees.

The Cyber Privacy Liability policy available through Mercer Consumer, a service of Mercer Health & Benefits Administration LLC, has been tailored for financial professionals to provide coverage for damage done to your business as well as third parties.

FINRA® is a registered trademark of Financial Industry Regulatory Authority, Inc.

Mercer Consumer, a service of Mercer Health & Benefits Administration LLC* (Mercer Consumer), a third-party provider of insurance products, is the Program Administrator. FINRA does not endorse these products and firms are not obligated to use them. Their use does not ensure compliance with FINRA rules or other regulations or laws.

Mercer Consumer, a service of Mercer Health & Benefits Administration LLC
In CA d/b/a Mercer Health & Benefits Insurance Services LLC
AR Insurance License #100102691
CA Insurance License #0G39709
MN Insurance License #40291395
OK Insurance License #100100336
TX Insurance License #1850385

*Mercer Consumer is a registered trade name of Mercer Health & Benefits Administration LLC