Cyber Liability Insurance
Almost every organization that uses technology for business faces cyber risk. And as technology evolves, so do the threats we face – which is why every business and organization needs to be protected with cyber liability insurance. At Imperial Insurance Agency, we understand the complexity of cyber threats and have cyber liability insurance programs available that help protect your business assets.
Network Security & Privacy Insurance – Covers third party claims arising out of a breach of the insured’s Network Security or other private information. Includes coverage for both online and offline information, virus attacks, denial of service, and failure to prevent transmission of malicious code.
- Privacy Breach Responses Costs – Includes all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring, identity theft restoration and postage expenses incurred by the insured in response to a privacy breach.
- Network Asset Protection (including Non-physical Business Interruption) – Coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted. Coverage also includes business interruption and extra expense coverage for income loss as a result of the total or partial interruption of the insured’s computer system
- Regulatory Defense & Penalties – Coverage for defense costs and fines/penalties for violations of privacy regulations, including, but not limited to, HIPAA, Red Flags Rule, and the Hi-Tech Act.
- Multimedia Insurance – Coverage for both online and offline media. Including claims alleging copyright/trademark infringement, libel/slander, advertising, plagiarism, and personal injury.
- Cyber Extortion – Will pay extortion expenses and extortion monies as a direct result of a credible cyber extortion threat.
- Cyber Terrorism – Coverage for income loss and interruption expenses as a result of the total or partial interruption of the insured’s computer system due to a cyber terrorism attack
- Broad Coverage for data that is stored with a third party including, but not limited to, IT outsourcers and Independent Contractors
- Worldwide coverage – claims can be brought outside of the U.S.
- Payment Card Industry – Data Security Standards endorsement available to qualified applicants. Provides $250,000 sub-limit for fines & penalties levied by an acquiring bank and also includes
- $50,000 for legal expenses
- Network Asset Protection’s policy trigger includes accidental damage or destruction, administrative and operational mistakes as well as computer crimes and attacks
- Property Damage exclusion does not include electronic data
- Commercial and Corporate confidential information is covered
- Acts committed by rogue employees are covered, as well as privacy claims from employees
- Multimedia Coverage includes liability assumed under contract
- Extended Reporting Period available up to 3 years