The Key Exposures

Cyber Liability insurance encompasses four key exposures: 

• 3rd Party Liability

• 1st Party Liability

• Cyber Crime

• Business Interruption

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3rd Party Liability

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3rd Party Liability protects against: 

• Privacy and security intrusion

• Media exposure

• Regulatory exposure

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1st Party Liability

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1st Party Liability provides coverage for you;

• Breach notification

• Experts in computers and legal issues surrounding a breach

• Betterment – coverage for your computer system

• Cyber extortion – malware, ransomware

• Data restoration – costs for restoring compromised  data

• Public relations – to mitigate reputational damage

Cyber Crime 

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Cyber Crime provides coverage for:

• Unauthorized system access resulting in loss of money

• Funds transfer fraud (fraudulent instructions to a financial institution)

• Social engineering fraud due to impersonation of another and fraudulent provision of funds transfer information​

• Social engineering fraud due to impersonation of another and fraudulent provision of funds transfer information

• Telecom fraud covers charges by a telephone service for fraudulent use of your telephone numbers or system

Business Interruption

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Business Interruption provides coverage for

• Income loss and expenses associated with the restoration of your system due to virus, intrusion/attack

• System failure – replacement of income due to accidental, unintentional, unplanned disruption of your system

• Dependent BI has options for loss of income from the disruption of another party’s system on which your business is dependent

• Reputation damage covers loss of income resulting from damage to your reputation from a cyber event

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