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Forms of Cyber Liability Protection

 

cyber liability insuranceBusinesses sometimes make the assumption that their commercial general liability insurance covers cyber liability. That is not the case. And while the specific coverage needed depends on a range of factors—from the nature of the business to the size of the firm—there are typical coverage components.

 

First Party Loss

  • Breach Response/Crisis Management This includes the host of expenses itemized in the panel to the left.
  • Cyber Extortion Loss covers a response to any threat by a third party to commit a network security or privacy breach.
  • Business Interruption protection is part of your general liability insurance but most policies exclude loss of income related to a network security breach and any expenses incurred to restore a network to its original state. A cyber liability policy can provide that protection.
  • Data loss protection covers the cost to restore data destroyed of altered as a result of a breach.

Third Party Liability

This protection covers claim expenses and damages you’re legally required to pay as a result of:

  • A Network Security Breach
  • A Privacy Breach of Personally Identifiable Information, Protected Health Information, or corporate confidential information
  • Regulatory fines/penalties resulting from a violation of a privacy law
  • Claims against you for a data accessible through your website

 

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