Assurant will provide support for MyDigitalShield’s data breach guarantee, accompanying MDS’ cybersecurity technology protecting small businesses against the costs associated with data and system restoration, customer disclosures and other expenses in the event of a data breach.
“Cybersecurity is a large concern for small businesses,” said John Frobose, senior vice president of Assurant. “Small businesses typically don’t have the IT resources or the working capital of large corporations, yet they face a serious threat to their sustainability if a data breach occurs.”
Frobose continued, “We’re working with MyDigitalShield to back its data breach guarantee with its cybersecurity technology, helping protect small businesses from both hackers and the potential, resulting financial losses.”
More than 700 U.S. businesses reported experiencing a data breach last year, according to the Identity Theft Resource Center. As an additional benefit with MyDigitalShield’s cloud-based security platform, MDS will provide a data breach guarantee backed by Assurant for up to $50,000 for impacted businesses, at no additional cost to the users.
“Together with Assurant, we’ve developed a full-service solution to one of the real pain points for a small business today,” said Andrew Bagrin, CEO, MyDigitalShield. “Our multi-layered security filters and protects data traffic through any gateway, blocking threats and malware. Assurant brings an important, added layer of financial protection in support of our data breach guarantee, helping us to make our clients whole in the unlikely event that a breach does occur.”
In addition to losses from data restoration, the MyDigitalShield guarantee includes data re-creation and related public relations costs incurred by the business.
The initiative with MyDigitalShield is the latest technology-based innovation in risk management from Assurant, which also safeguards millions of electronics owners, car- and home-sharing customers, and small package shippers.
Assurant, Inc. (NYSE: AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; extended service contracts; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets as of March 31, 2016, and $8 billion in annual revenue for the year ended 2015, Assurant is located in 16 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.