Though hackers remain the number one cause for cyber insurance claims, there are a number of big threats out there that can happen at any time.
Fortunately, a cyber liability insurance policy can help protect your company against a big number of breach events.
Cyber liability insurance provides coverage for:
- Privacy liability: Fills the gaps between state- and federal-specific definitions after a data breach
- Privacy regulatory claims: Legal defense expenses, fines and penalties assessed by federal, state, and local authorities
- Security breach response: IT forensics, customer notifications, PR, and credit monitoring services
- Security liability: Addresses the human element and allegations of a “Security Wrongful Act”
- Multimedia liability: Defamation, libel, slander, copyright, and more
- Cyber extortion: Expenses and payments (within limits) to a harmful third party to avert potential damage
- PCI-DSS assessment: Compliance assessments and expenses involving cardholder information
- Cyber deception extension: Extensions respond to an intentional or misleading material facts contained or conveyed within an electronic or telephonic communication(s) that are believed to be genuine
- Business income and digital asset restoration: Provides for lost business and earnings, expenses, and digital-asset restoration costs