Businesses using biometric technologies should pay special attention to Illinois law.
Examples may include qualifying:
- Fingerprints
- Facial geometry
- Retina or iris scans
- Biometric time-clock systems
Illinois' BIPA contains requirements concerning:
- Written notice
- Consent
- Retention
- Destruction
- Disclosure of biometric information
Private entities possessing biometric information must also establish a publicly available written retention and destruction policy as required by the Act.
Read more:Illinois Biometric Information Privacy Act
Business Email Compromise
One of the most common cyber exposures involves fraudulent emails.
Examples include:
- Fake wire instructions
- Fake vendor invoices
- Impersonation of an owner
- Payroll diversion
- Compromised customer email
Not every Cyber policy automatically covers every type of financial fraud.
Ask specifically about:
- Social Engineering
- Funds Transfer Fraud
- Computer Fraud
Cyber Insurance Underwriting
Insurers increasingly evaluate security controls such as:
- Multi-Factor Authentication
- Email security
- Backup procedures
- Employee training
- Endpoint protection
- Software updates
- Remote-access controls
- Password policies
- Incident-response plans
Weak controls can result in higher premiums, restrictions, or declined coverage.
How Is Cyber Insurance Rated?
Insurers may evaluate:
- Annual revenue
- Number of employees
- Industry
- Type of information stored
- Number of customer records
- Payment-card exposure
- Healthcare information
- Prior cyber incidents
- Security systems
- Third-party vendors
- Requested limits
- Deductible
If You Suspect a Cyber Incident
Do not automatically delete everything.
Contact appropriate IT/security professionals immediately.
Notify the cyber insurer promptly.
Many policies provide access to approved:
- Breach counsel
- Forensic investigators
- Incident-response specialists
Do not assume you can notify customers however you choose.
Legal notification requirements should be reviewed by qualified counsel.
Need Cyber Insurance?
Insurhaus can help evaluate Cyber Liability options for qualifying Illinois businesses.
630-786-9971info@insurhaus.comwww.insurhaus.com
Important Notice
This information is educational only and is not legal, cybersecurity, privacy, or regulatory advice. Consult qualified legal and cybersecurity professionals regarding actual privacy or breach obligations.