Not all cyber policies are created equal. We found existing cyber insurance policies lacking, so we created our own – with comprehensive coverage, high limits, and industry-first coverages – designed to protect businesses against a wide set of cyber incidents.*
Cyber insurance is an essential part of risk management that not only helps businesses cover the losses resulting from a cyber attack but also includes tools and resources to help prevent attacks before they occur. With access to continuous risk monitoring and support from cybersecurity experts, cyber insurance offers organizations protection from the growing cybersecurity risks not covered by traditional insurance policies.
Due to the vast amount of data they handle and the types of transactions they facilitate. Direct access to financial records, social security numbers, and other types of sensitive data puts the financial services industry at increased risk of a cyber attack.
| 3rd Party Security and Privacy | |
|---|---|
| Network and Information Security Liability | Coverage for defense costs and damages from liability to a third party resulting from a security failure, data breach, or privacy violation. |
| Regulatory Defence and Penalties | Coverage for defense costs and regulatory fines and penalties resulting from a security failure or data breach (subject to applicable law). |
| PCI Fines and Assessments | Coverage for PCI fines or assessments made against a policyholder resulting from a security failure or data breach. |
| Funds Transfer Liability | Coverage for defense costs and damages from liability to a third party for fraudulent transfers of funds owed to another party resulting from a failure in the policyholder’s security. |
| Media and Professional Liability | |
| Multimedia Content Liability | Coverage for defense costs and damages from liability to a third party for multimedia wrongful acts, such as infringement, defamation, or piracy. |
| Technology Errors and Omissions | Coverage for defense costs and legal liability incurred from errors and omissions related to information technology products and services provided by the organization. |
| Miscellaneous Professional Liability | Coverage for defense costs and legal liability incurred from errors and omissions related to the insured’s professional services scheduled on the policy. |
| Cyber Crime | |
| Funds Transfer Fraud, Personal Funds Fraud, and Social Engineering | Coverage for financial losses incurred from a fraudulent instruction or social engineering that results in a fraudulent transfer of funds. |
| Service Fraud including Cryptojacking | Coverage for the direct financial losses incurred as the result of fraudulent usage of business services resulting from a security failure. |
| Impersonation Repair and Phishing | Coverage for a policyholder’s customers' losses and to help stop the ongoing impersonation of the policyholder to limit future losses. |
| Invoice Manipulation | Coverage for direct net costs (excluding any profit) for which a policyholder is unable to collect payment as the direct result of their customer being tricked into sending the payment to a fraudulent party. |
| Event Response | |
| Breach Response Costs | Coverage for costs to respond to a breach and help you recover, including incident response, customer notification, credit monitoring, and legal costs. |
| Cyber Extortion (Ransomware) | Coverage for costs to respond to an extortion incident, up to and including payment of a ransom demand. |
| Computer Replacement and Bricking | Coverage for the costs associated with replacing computer hardware whose integrity has been permanently altered by malware. |
| Other Coverages (Available by Endorsement) | |
| Bodily Injury and Property Damage - 1st Party | Coverage for losses resulting from bodily injury or damage/impairment to physical property, as well as damages resulting from any liability the policyholder may have to a third party, including regulatory fines & penalties and pollution liability. |
| Bodily Injury & Property Damage - 3rd Party | Coverage for defense costs and liability incurred when a security failure results in physical damage or injury. |
| Pollution | Coverage for defense costs and liability incurred when a security failure results in the release of pollutants. |
| Reputation Repair | Coverage for advertising, media purchases and consulting costs to help preserve customer confidence and protect the policyholder’s brand reputation. |
* Exclusions and limitations apply. See disclaimers and the policy as issued
