Cyber and Technology E&O insurance

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

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