Cyber Security insurance

Also known as Data Compromise Response Expense, this coverage allows you and your business to respond when a data breach impacts customer information or business data is lost, stolen, or accidentally released. Services range from, but are not limited to, forensic IT review, legal counsel, public relations support, as well as coverages for costs to inform affected people.

Recovering from a computer attack is complex and expensive. Computer Attack coverage covers costs of professional data restoration services, loss of business income, as well as computer hardware and software upgrades to mitigate future losses.

Often deployed via phishing schemes and ransomware, cyber extortion typically holds your data and/or computer systems hostage in exchange for financial payment. With Cyber Security insurance, the cost of a negotiator or investigator is covered, as well as amounts paid in response to a credible cyber threat to the party that made the threat, to resolve that threat.

Misdirected Payment Fraud coverage will reimburse the amount of money fraudulently obtained as a result of deceptive communications, including emails, faxes, or phone calls by someone impersonating an employee or financial representative. If your business falls victim to an intentional and criminal deception resulting in a wrongful financial transfer, this covers the reimbursement of those funds.

Computer Fraud coverage provides financial reimbursement for the direct financial loss involving unauthorized access to your computer system by someone outside of your company that results in the sending or diverting of funds.

Telecommunications fraud coverage is defined as when an unauthorized party outside of your business gains access to your business telecommunications system and uses that access to establish fraudulent charges with your telephone service provider. This coverage provides reimbursement for the direct financial loss.

Privacy Incident Liability covers your defense costs, within the coverage limits, associated settlement, and judgment costs arising from an action brought by “affected individuals”, or a government entity on behalf of such individuals who allege specific injuries as a result of a covered data compromise, failure to comply with a privacy policy, wrongful collection of, or failure to delete personally-identifying information.

Network Security Liability covers costs associated with defense, settlement, and judgment arising from an action brought by third parties who allege specific injuries resulting from a failure in your business network security.

Electronic Media Liability covers the loss directly arising from an electronic media suit initiated by a third party who alleges the display of information on your business website resulted in infringement of another’s copyright, title, slogan, trademark, trade name, trade dress, service mark, or service name; defamation against a person or organization that is unintended; or a violation of a person’s right of privacy, including false light and public disclosure of private facts.