Cyber crimes continue to rise each year. Businesses of all sizes are at risk. Below are some coverage highlights that are available to protect your business from Network Security and Cyber crimes.
Security Breach Expense – Coverage for losses and expenses directly associated with response activities in the aftermath of a cyber incident
Extortion Threats & Ransom Payments – Coverage for expenses related to the investigation, negotiation, and possible payment of an extortion threat and ransom
Restoration of Electronic Data – Coverage for the costs to replace or restore electronic data or computer programs in the aftermath of an incident
Business Income, Contingent Business Income & Extra Expense – Coverage for the losses and costs associated with the inability to conduct business due to a cyber incident or an extortion threat
System Failure – Endorsement that broadens business income and contingent business Income coverage to businesses that engage in e-commerce and adds a system failure event trigger
Public Relations Expenses – Coverage for the fees and costs to restore reputation in response to negative publicity following a cyber incident or a security breach
Security Breach Liability – Coverage for third-party liability directly due to a cyber incident and that the insured may become legally obligated to pay
Computer & Funds Transfer Fraud – Coverage for the losses associated with a fraudulent transfer of money, securities, or other property
Social Engineering – Coverage for losses associated with fraudulent instruction & misrepresentation leading to the unintended transfer of money
Reverse Social Engineering – Coverage for the fraudulent transfer of funds, including invoice manipulation, or other similar deceptive intentional acts by someone outside your organization to your client or vendor
Ransom Payments – Coverage for the reimbursement of ransom payment to a third party to resolve an extortion threat
Post Breach Remediation – Coverage for labor costs incurred to resolve vulnerabilities in the insured’s computer system that are identified after a cyber incident
Hardware Replacement Costs – Coverage for the cost to replace destructed or corrupted equipment after a cyber incident
Telecommunications Fraud – Coverage for the cost of unauthorized use of the insured’s telephone system following a cyber incident
Website Media Content Liability – Coverage for loss and defense expenses from intellectual property infringement
Regulator Defense & Penalties – Coverage for loss and defense expenses as a result of an investigation on behalf of an administrative, regulatory or federal, local or foreign government entity
PCI Fines & Penalties – Coverage for loss and defense expenses as a result of a claim in the form of an action by a Card Company for non-compliance with the Payment Card Industry Data Security Standards, including coverage of related fines or penalties
Dedicated Breach Cost Endorsement – Breach Cost Expense coverage provided as a dedicated separate limit
Service Fraud and Crypo-jacking – Coverage for an expanded set of telecommunications fraud including cloud consumption and cryptojacking
Talk to your agent at Professional Underwriters today to tailor your coverage.