Additional Cyber Coverage

Understanding the Coverage

• Breach Event Costs – Covers reasonable and necessary mitigation costs and expenses incurred as a result of an adverse media report, security or privacy breach, including legal expenses, public relations expenses, advertising and IT forensic expenses, postage, and the costs to provide call centers, credit monitoring, and identity theft assistance for up to 12 months
• Privacy Regulatory Defense and Penalties – Covers defense costs, regulatory fines and penalties and/or regulatory compensatory awards resulting from privacy regulatory proceedings/investigations brought by federal, state, or local governmental agencies due to a security or privacy breach.
• 3^rd Party Security and Privacy Liability – Covers defense costs and damages from claims alleging liability to others arising out of a security or privacy breach, including failure to prevent or hinder unauthorized disclosure or use of personal or confidential information, failure to timely disclose a breach, or violations of the Insured’s privacy policy or any federal, state or local law.
• Cyber Crime (up to $100,000) for:
  • Financial Fraud – Loss of money or securities due to financial fraud, including wire transfer fraud.
  • Phishing Attack – Expenses incurred to notify clients of a phishing scheme which fraudulently impersonates the Insured, the Insured’s brand or services, including the cost of reimbursing clients for losses they sustain as a result of such schemes.
  • Telecommunications Fraud – Charges incurred by Insured for unauthorized calls resulting from fraudulent use of a telephone system the Insured owns, rents, leases, licenses or borrows.

• Cyber Extortion – Covers reasonable and necessary extortion expenses incurred and monies paid as a direct result of a credible cyber extortion threat made against the Insured.
• Network Asset Protection – Covers reasonable and necessary expenses incurred by the Insured to recover and/or replace data that is compromised, damaged, lost, erased or corrupted due to: (1) accidental damage or destruction of electronic media or computer hardware, (2) administrative or operational mistakes in the handling of electronic data, or (3) computer crime/attacks, including malicious code and denial of service attacks.
• 3^rd Party Multimedia Liability – Covers defense costs and damages from claims alleging copyright or trademark infringement, libel or slander, or plagiarism arising out of dissemination of the Insured’s electronic and non-electronic media material.
• BrandGuard® – Covers loss of net profit by Insured as direct result of adverse media report or notification of a security or privacy breach.
• PCI DSS Liability – Covers defense costs and assessments, fines or penalties imposed against an Insured by banks or credit card companies alleging non-compliance with the Payment Card Industry Data Security Standard (PCI DSS) or payment card company rules.