Cyber Liability Coverage Options
Give your firm piece of mind with Cyber Liability/Network Security coverage. The options may seem overwhelming or confusing, but the policy can be tailored to your firm’s needs. Here are some coverage options you should consider.
Business Income and Extra Expense:
Coverage for the loss of business income and other expenses arising from the inability to conduct business due to a security breach, cyber incident, or extortion threat. This can also include additional costs incurred, in excess of the Insured’s normal operating expenses, to reduce or avoid a loss of business income.
Extortion Threats and Ransom Payments:
Coverage for expenses related to the investigation, negotiation, and possible payment of an extortion threat and ransom. This can include fees and costs associated with ransom negotiators, the payment of a ransom, interest costs paid to a financial institution for a loan to pay the ransom, and/or reward payments for information leading to an arrest.
Post Breach Remediation:
This endorsement provides coverage for costs that are incurred after a cyber incident, security breach, or extortion event to identify and resolve any vulnerabilities or weaknesses in the computer system.
Bricking Costs:
This endorsement provides coverage for reasonable and necessary costs to replace an Insured’s hardware, including computers and associated devices or equipment that is damaged, impaired, or inoperable as a direct result of a security breach, cyber incident, or extortion threat.
System Failure Loss:
This endorsement provides coverage for the loss of business income and other expenses arising from the inability to conduct business due to an accidental or negligent shutdown of your system in the course of, among other things, data processing and /or maintenance. This can also include additional costs incurred, in excess of the Insured’s normal operating expenses, to reduce or avoid a loss of business income.
Talk to an agent at Professional Underwriters to put your coverage in place today!