Cyber Policy Guide This document is meant to work as a quick reference guide to common cyber liability “insuring agreements”, the portion of the insurance policy in which the insurer promises to make payment to or on behalf of the insured. Always read such agreements before signing.
Third party cyber coverages
Cover losses caused by third parties, such as vendors.
Media Liability
Coverage against allegations or errors and omissions in the course of your company's communication of Media Content in electronic (website, social media, etc.) or non-electronic forms (ie. Defamation, libel, slander, emotional distress, invasion of the right to privacy, and copyright infringement). Usually does not cover your actual product or technology. We do recommend Intellectual Property coverage for true IP infringement liability protection.
Network Security and Privacy Liability
Provides coverage against liability claims for actual / alleged failure to prevent unauthorized access to or use of a computer system, and/or the failure to prevent false communications such as phishing that results in corruption, deletion of or damage to electronic data, theft of data and denial of service attacks against websites or computer systems of a third party.
Payment Card Loss
Covers fees and assessments that your company becomes legally obligated to pay due to claims involving your company's non compliance with PCI Data Security Standards.
Regulatory Proceedings
Provides coverage for insurable fines, penalties and legal defense your company is obligated to pay due as a result of a claim made against your company by a government regulatory body because of a violation of federal, state, local or foreign privacy regulations.
Technology Errors & Omissions
Provides coverage for expenses and damages your company must pay due to a claim alleging a negligent act, error, omissions, or misrepresentation in your company's rendering or failure to render technology services for others for a fee usually through your platform or software.
TCPA Defense Cost Coverage
Covers defense costs incurred by your company to defend against a claim for an actual or alleged violation of the Telephone Consumer Protection Act.
First Party Cyber Coverages
Covers losses experienced directly by your company.
Cyber Incident Response
Fees and costs incurred by your company and charged by a response provider to the investigate an acual or suspected privacy event or system breach and to respond and notify indiviuals in line with local regulation.
Business Interruption Loss
Covers expenses and revenue impact incurred by your company if you are unable to access to your systems due to a system breach or denial of service attack that interrupts your company's computer system for an extended period of time.
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