Cyber and Technology E&O insurance
Transforming challenging cyber risks into tailored solutions
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We transform complex cyber risk into opportunity.
Expertise
We don’t just underwrite cyber risks; we craft solutions. Our team goes beyond transactional approaches, diving deep into each account's unique cyber-related challenges. With specialized knowledge in technology, public entities, and emerging sectors, we bring unparalleled underwriting expertise that transforms complex cyber risks into manageable opportunities.
Stability
Backed by Munich Re’s global strength and balance sheet, we offer brokers confidence. Our broad appetite, combined with Lloyd’s of London syndicate underwriting, provides a rock-solid foundation. We’re not just another carrier — we’re a stable, trusted partner who can handle challenging cyber risks with resilience.
Partnership
We believe this business is more about relationships than transactions. Our approach is collaborative, flexible, and personalized. We spend time understanding your specific needs, offering manuscript policy solutions and risk management services that go beyond standard coverage. When you work with Munich Re Specialty, Cyber, you’re gaining a true partner who is committed to your success.
Cyber insurance capabilities
Target classes
Primary Risks
Earning up to $5bn in gross annual revenue
Excess Risks
Earning up to $5bn in gross annual revenue
Airlines
Casinos/gambling risks
Adult content
Cryptocurrency
Blockchain
Payment processors
Cannabis-related risks
Social media/networking
Coverage details
Capacity
Up to $10m
First-party coverages
- Breach event
- Cyber crime
- Cyber extortion
- Reputational harm
- Digital asset damage
- Hardware replacement — business and dependent business interruption
Third-party coverages
- Network security and privacy liability
- Media liability
- Regulatory liability
- PCI DSS liability
- Technology E&O
Dependent Business Interruption
Provides coverage for loss of gross profit and extra expense from a disruption of an insured’s operations from a malicious event occurring on a service provider’s computer system.
Digital Asset Damage
Coverage resulting from a business interruption, cyber extortion, or a bricking event — coverage is not subject to a waiting period.
Planned Outage (no exclusion)
Insured can voluntarily shut down their computer system to help mitigate a loss.
Blanket Vicarious Liability
Coverage addresses the insured’s legal liability and the vicarious liability of third parties.
Regulatory Damages
Extend to most favorable law imposed by a regulatory authority.
Broad Definitions of Technology
Insured event, technology products, and technology services.
Claims scenarios
A company employee received an email that appeared to be from a legitimate source but was in fact a phishing attack. The employee clicked on a link and allowed a cybercriminal to extract the company’s data, including personal and credit card data pertaining to clients. How does Cyber coverage respond?
First-party coverage
- While coverage application is determined by individual claims analysis, first-party Cyber insurance coverage can:
- Pay to investigate the source and extent of the data breach
- Notify clients of the breach and what information was extracted
- Provide for the purchase of credit monitoring services
- Reimburse the insured for business interruption and lost revenue
- Provide for PR to protect the insured’s reputation
- Pay ransom to have data unencrypted in the case of ransomware/cyber extortion
- Pay ransom to a cyber-extortionist who is holding data hostage
Third-party coverage
If the same data breach occurs on a third party’s network or systems, third-party Cyber insurance can:
- In the event of a lawsuit, respond to an insured’s covered attorney’s fees, legal expenses, and settlements or assessed damages
- If the insured is a technology business, Technology E&O insurance defends against lawsuits pertaining to data breaches, professional negligence, inadequate or incomplete work, and critical timelines missed
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