Claim Scenario of the Month

Question

Teller Tilly discovered that she can make a lot of money selling bank customer’s personal information such as social security numbers. She simply writes them down during her free time and brings them home. One day supervisor Sue discovers Teller Tilly has taken hundreds of names and numbers. The bank wasn’t hacked so, is this a cyber liability claim?

Answer

There is a difference between a hack and a breach. What Tilly did was a breach. If you have a robust Cyber Liability/Mitigation policy this loss should be covered. However, where do you begin researching this loss? Who do you contact next? Do you need to notify all your bank customers or just those affected? Do you need to monitor credit reports now? If so, which company? We have the best Cyber Liability policy which can answer all these questions and possibly handle them for you bank.

If you have any questions about this claim scenario or any insurance matter, call Brien O'Connor at Bankers Insurance Agency at 512-334-0971.

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