Defining The Coverages
Data Compromise
Provides first party and third party coverage designed to provide the insured with the resources to respond to a breach of personal information. Coverage helps the insured to comply with breach notification laws and provides defense and settlement costs in the event of a suit related to a breach of personal information.
Identity Recovery
Designed as a companion to Data Compromise, it provides owners of the insured business with a dedicated help line support, case management service and financial resources to recover control of their identities after an identity theft including legal fees if necessary.
Computer Attack
A first party coverage designed to respond to a computer attack that damages the insured’s data and systems. Coverage helps with costs associated with data and system restoration or recreation, loss of income and public relations assistance. Examples of a computer attack include hacking into the computer system, an attack against the system by a virus or other malware and a denial of service attack against the system.
Cyber Extortion
A first party coverage designed to help an insured respond to an extortion threat including cost of a negotiator or investigator retained and any amounts paid in response to a credible threat for the purpose of eliminating such threat.
Network Security Liability
A third-party coverage designed to provide defense and settlement costs in the event of a suit alleging that a system security failure on the part of the insured caused damage to a third party.
Misdirected Payment Fraud
Provides coverage when the insured is a victim of a wrongful transfer event – an intentional and criminal deception of the insured (or financial institution where the insured has an account) by a person who is not an employee using email, facsimile or telephone to conduct the transfer – resulting in a direct financial loss.
Computer Fraud
Provides protection when the insured is the victim of a computer fraud event or unauthorized access to the computer system that leads to intentional, unauthorized and fraudulent entry or a change to data or instructions within the computer system.
Electronic Media Liability
Coverage is triggered by the receipt of notice of an electronic media liability lawsuit − which can be a civil action, an alternate dispute resolution proceeding or a written demand for money − alleging that the electronic display of information on a website resulted in infringement of another's copyright, unintended defamation against a person or organization or a violation of right to privacy.
