Cyber / Data Breach/ Network Security/ Privacy Liability Insurance
This type of protection is also known as Cyber Liability Insurance, and provides coverage after the theft or loss of both first-party and third-party data. This means that, whether the data breach happens directly to your company or to a company whose data you are working with, you’re covered.
Kape Insurance can help you find a program which provides both First and Third party coverage for your business. Coverage items important for you to consider:
- Includes coverage for legal fees and computer forensic costs in the event of a security or privacy breach
- Regulatory fines and penalties included under Security Event Costs and PCI assessment coverage available by endorsement
- Customer Notification Expenses include legal expenses, credit monitoring, postage and advertising
- Comprehensive interruption expenses coverage, including income loss
- Coverage for Damages to third parties caused by a breach of network security
- Definition of claim includes a demand for monetary and non-monetary damages
First Party Protection
- Loss of Digital Assets Coverage
- Non-Physical Business Interruption and Extra Expense
- Cyber Extortion
- Cyber Terrorism
- Security Event Costs
Third Party Protection
- Network Security and Privacy Liability
- Employee Privacy Liability
- Electronic Media Liability
EXAMPLE CLAIM SCENARIOS
Unauthorized Access: An international computer hacking group gained access electronically to the computerized cash registers of a restaurant chain and stole credit card information of 5,000 customers, starting a flood of fraudulent purchases around the world.
Human Error: An employee of a private high school mistakenly distributed via e-mail the names, social security numbers, birthdates, and medical information of students and faculty creating a privacy breach. Overall, 1,250 individuals’ personal information was compromised.
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Data breaches and network security failures happen.
Let Kape Insurance get you covered!