Cybersecurity - Data Breach Insurance

Cybersecurity risks, including data breaches, are among the most significant risks facing any company in the hospitality industry that receives what may be characterized as personally identifiable information, including credit card information. When hackers, rogue current or former employees, or others steal or otherwise gain access to such personally identifiable information, the data breach may expose the company to liabilities under statutory and regulatory schemes and to third parties, resulting in significant costs to mitigate, remediate, and comply with the obligations arising out of the liabilities.