Threats are constantly evolving. Is your insurance policy?
It can, and should be, with cyber risk-defined insurance coverage. Considering that today’s cyber threats are tomorrow’s insurance claims, it is important to review your current insurance policies to ensure your Company is covered for such claims. Especially since a (CGL) “Commercial General Liability” insurance policy, often the foundation of a Company’s business insurance program, is not equipped nor is it intended to defend or indemnify against the lawsuits and potential liabilities that could arise from a data breach or cyber attack.
Cyber insurance, with data breach response services, offers businesses and organizations of all sizes, industries and sectors a comprehensive standalone incident response plan solution for assisting in a cyber attack or data breach recovery scenario.
It may offer coverages such as (depending on the specific policies and endorsements):
1) crisis management and customer notification expenses,
2) credit/identity theft monitoring,
3) privacy and security liability,
4) privacy regulatory defense and penalties,
5) computer forensics investigation,
6) cyber extortion, (ransom)
7) network interruption.
8) data loss and reconstruction,
9) a “Data Breach Coach” (aka “Privacy” attorney) and
10) pre-breach planning services, and more.