<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=454479291403716&amp;ev=PageView&amp;noscript=1"> Cyber Insurance Coverage Types

Cyber Insurance

Stand alone policies are general divided into 2 coverage types: Expense and Third Party

Expense Coverages:

  • Notification Costs:  the costs associated with letting all those affected by the breach know that it has occurred.  This would include costs such as: mailing campaigns, credit monitoring, call centres to handle questions, etc….
  • Forensic Investigative Costs:  the costs associated with hiring a professional third party to determine where, when, and how the breach occurred; also, to ensure that no future problems occur as a result of that particular system issue.
  • Business interruption: Lost income as a result of the breach.

 Third Party Liability coverage

  • Network Security Liability:   Covers damages and claims expenses associated with the unauthorized access to, degradation of, or disruption to the insured’s network through the use of malware, denial of service attacks, phishing, etc. causing loss.
  • Privacy Liability:  Covers the disclosure, use, access, destruction, or modification of personal protected information.
  • Internet Media Liability:    Liability resulting from allegations of: infringement of privacy, defamation, disparagement, piracy, copyright infringement, etc. related to content displayed electronically.


Underwriting Factors:

As with all insurance, a number of factors go into the underwriting of cyber insurance. Here are just a few:

  • Employees
  • Record count & type of information
  • Controls
  • Training
  • Encryption around data
  • Revenues
  • Planning & disaster recovery
  • Past instances

Give us a call today to find out where you might be at risk and how we can protect your business from a devastating cyber attack. 

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