Today businesses keep a considerable amount of personal and financial information about their customers within their computer systems. These systems are susceptible to intrusion by hackers who seek this type of information.
Database and technology insurance covers the compliance/victim assistance package fee that is required by most states to inform all customers that their information has been stolen. The fee can range anywhere from $90 to $300 per customer. It is a separate policy that also covers the cost associated with fixing the computer system that was compromised.