HUB International provides the right insurance solutions to protect clients in case of a cyber breach/attack. There are many aspects to take into consideration when a cyber-attack occurs, such as expenses in recovering from a breach to setting up a call centre to answer client questions. Risks covered by Cyber Liability Insurance include:
Third Party Liability:
Coverage for lawsuits from third parties includes clients and anyone that is affected by the breach.
- Multimedia/Content Liability
- Claims arising from content including unauthorized use, defamation, etc.
- Security & Privacy Liability
- Breach of network, privacy
- Privacy Regulatory Defense & Penalties
- Defense costs and coverage for penalties
First Party Liability:
First party liability provides coverage for expenses a company may incur as a result of a breach. Such costs can include the cost of investigating the cause of a breach, repairing systems, notifying individuals of a breach, setting up clients for credit monitoring and much more.
- Notification Expense
- Data loss and recovery
- Covers costs to recover lost data, analyze breach
- Business Interruption Loss
- Covers cost to investigate the cause, re-establish security
- Cyber extortion
- Cyber Terrorism
- Business interruption insurance