Nearly all businesses utilize electronic devices to conduct important communication and transactions. Whether they are using computers, laptops, tablets, iPads, iPhones, USB drives, Apple Watches, or another device, a breach can occur at any company, large or small. If a data breach happens, the financial and reputational repercussions can be devastating.
Cyber Liability may be included as an enhancement to some PartnerOne products, addressing losses that may result when a business engages in various electronic activities. This coverage is not limited to cyber claims arising out of “contractor activities” or “professional services.”
Limits up to $500k/ $1M available.
Coverage parts include:
- Security Breach Expense
- Costs to notify parties affected, including media coverage to announce
- Overtime salaries for employees assigned to handle inquiries
- Costs to hire call center
- Post event monitoring (including credit monitoring for victims)
- Extortion Threats
- Costs of security firm to determine validity
- Reward payment for informant leading to arrest
- Independent negotiators
- Ransom payments
- Replacement or Restoration of Electronic Data
- Including cost of data entry, reprogramming, and computer consultation services.
- Public Relations Expense
- Fees and costs of PR firm
- Other reasonable expenses incurred with our consent to protect/restore reputation in response to negative publicity
- Security Breach Liability
- Covers Liability from unauthorized disclosure of your client’s personal information
- Your transmission of a virus to a third party by e-mail or other means
- Loss and defense costs: compensatory damages, settlement amounts, costs awarded to judgements
For more information about Cyber Liability, contact us.
Target risks Include, but are not limited to:
- Any business that utilizes computers and/or other technology to run its operations.