Can provide companies with protection against the following:
- Third-party claims arising from a failure of the insured’s network security or a failure to protect data. Insurance also responds to regulatory actions in connection with a security failure, privacy breach, or the failure to disclose a security failure or privacy breach.
- Direct first-party costs of responding to a security failure or privacy breach by paying costs of notifications, public relations, and other services to assist in managing and mitigating a cyber incident. Forensic investigations, legal consultations, and identity monitoring costs for victims of a breach are all covered.
- Business interruption caused by a network security failure by reimbursing for resulting lost income and operating expenses.
- Threats made against a company’s computer network and confidential information by an outsider attempting to extort money, securities, or other valuables. Coverage includes monies paid to end the threat and the cost of an investigation to determine the cause of the threat.
- Liability faced by companies for content distributed on their website. Coverage is provided for numerous media perils including copyright infringement, trademark infringement, defamation, and invasion of privacy.