Munich Re Specialty - North America
Cyber and Technology E&O insurance
© gremlin / Getty Images

Cyber and Technology E&O insurance

Coverage for today’s evolving cyber threats.

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    Leveraging the strength
    of Munich Re Specialty

    and the innovation of Lloyd’s, we offer tailored solutions that combine technical expertise, risk management services, and responsive claims support to address your clients’ needs on a primary and excess basis.
    Leveraging the strength of Munich Re Specialty
    © Getty Images

    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
    Most risk classes are eligible, except for the following:


    Casinos/gambling risks

    Payment processors

    Adult content


    Religious affiliations



    Political action committees

    Cannabis-related risks


    Social media/networking

    Coverage details


    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 


    Claims scenarios
    © Maskot / Getty Images

    Value-added services

    Learn about REFLEX™, our comprehensive, complimentary, and confidential cyber risk management program.
    Contact us
    Steve Pacheco
    Steve Pacheco
    US Head of Cyber and Technology E&O

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    About Munich Re Specialty

    Munich Re Specialty – North America products and services are offered by and provided through insurance companies and producers/surplus lines brokers that are eligible or licensed in accordance with the laws and regulations of individual jurisdictions. Products and services are not available in every, and may vary by, jurisdiction. The information provided on this site is intended as general information only and does not constitute an offer to sell or a solicitation to purchase insurance or non-insurance products and services. Please be aware that the insurance policy and not any information provided on this site will form the contract between the parties thereto, and will govern in all cases. Munich Re Specialty – North America’s insurance products and services in the United States, Canada, and the United Kingdom are underwritten and provided by or through one or more of the insurers, producers/surplus lines brokers that are members of the Munich Re Group identified below. Each company is financially responsible only for insurance policies it has issued.

    For more information on Munich Re Specialty, including licensing, regulatory-required, and other information on the operating companies, please click here.