As companies are faced with increased information security threats on a daily basis, businesses need their insurance coverage to respond to exposures that didn’t even exist just a few years ago.
With heightened awareness of privacy issues, new legislative changes, and ever more sophisticated criminal cyber-attacks around the globe, companies not only need to be protected from traditional exposures but also from those that continue to emerge.
Under a single integrated policy, CyberPlus Platinum responds to these exposures by offering broad coverage for data security and privacy exposures that are not covered under traditional P&C package policies.
The CyberPlus Platinum policy provides both third party liability coverage and first party computer security coverage and includes the following:
Privacy & Security Liability
Coverage for third party damages and defence costs arising out of actual, or potential:
- Breach of any right to privacy of employees or third parties.
- Theft, loss, unauthorized access to or disclosure of personal information or confidential third party corporate information.
- Failure to provide timely disclosure or notification of a privacy breach.
- Failure to protect against unauthorized access or use, theft or destruction of data, denial of service attacks and virus transmission involving the insured’s computer system.
- Privacy Notification Costs.
Coverage for third party damages and defence costs arising out of display of electronic content on the insured’s website (or on other’s websites for which the insured is responsible).
- Extends to many internet-related exposures including advertising injuries that are not covered under many of today’s general liability policies including copyright infringement, piracy, libel and slander.
Fines & Penalties
- Civil fines/penalties imposed in a regulatory proceeding for a privacy breach.
- Equitable relief funds for payment of consumer claims in a regulatory proceeding.
- Fines or noncompliance assessments arising out of a breach of the rules, standards, and agreements governing the Payment Card Industry.
Privacy Breach Response Expenses
Coverage for expenses arising out of privacy and security breaches, including:
- Notification (voluntary or mandatory), including legal fees to determine actions necessary in event of a privacy breach.
- Computer security expert to demonstrate ability to prevent a future data breach.
- Mitigation to reputation, including public relations consultancy, crisis management or legal advice, advertising and communications.
- Identity theft protection, including changing, restoring and monitoring credit, identity or healthcare records, call centre services.
Who should buy this protection?
- Healthcare organizations
- Retail Operations
- Financial Institutions
- Any organization that has care, custody or control of any confidential information or data, whether it be in electronic or paper format, as well as any company with a computer system or website.
- Up to $50,000,000
Complete or download an Application now:
|CyberPLUS Platinum Insurance Application
Please call or email for a copy of the policy wordings for exact terms and conditions.
Ensure that your clients have complete insurance protection by including these other fine products that have been designed to complement our Cyber/Privacy policies:
- Life Sciences Liability
- CGL, Umbrella and Excess Liability
- Architects & Engineers’ Liability
- Miscellaneous E&O Liability
- Legal Expense
If you have further questions about this facility, please contact a member of our Information Technology Underwriting Team, who can provide you with specific details regarding terms, conditions, coverages and exclusions.
Below is a link to an article from one of our US colleagues which you might find interesting.