Overview of Cyber Attack Coverages*
Cyber Coverage responds to both the costs to restore your system (Computer Attack Coverage) and liability that may arise from having insufficient systems security (Network Security Liability Coverage).
Computer attack coverage includes the following components:
Data Restoration Costs. Coverage for the cost of a professional firm hired by you to replace lost or corrupted data
from electronic sources.
System Restoration Costs. Coverage for the cost of a professional firm hired by you to restore your computer system to its pre-attack level of functionality by replacing or reinstalling software, removing malicious code, and correcting the configuration of the your computer system.
Data Re-creation Costs. Coverage for the cost of a professional firm hired by you to research, re-create, and replace lost or corrupted data from non-electronic sources.
Loss of Business. Coverage for business income you lose and extra expenses you incur during the period of time when system and data recovery activities are taking place.
Public Relations Services. Coverage for assistance from a professional public relations firm in communicating with outside parties concerning the computer attack and your response.
Network security liability coverage responds to a liability suit alleging that a systems security failure allowed one or more of the following to happen:
Breach of third party business information.
The unintended propagation or forwarding of malware.
The unintended abetting of a denial of service attack.
Overview of Data Compromise Coverages*
Data compromise is a suite of coverages and services that enable an insured’s business to respond when personal information in the business’ care, custody, or control has been lost, stolen, or inadvertently released.
Response Expenses. Provides coverage for first party reimbursement coverage for expenses incurred by the insured when acting on a data breach.
Defense and Liability. Provides coverage for defense costs and damages that arise from a suit alleging injury due to a data breach.
*The listed product features are offered by carriers that are part of M&P’s team. We know that each situation is unique and that some of the features listed may not be available or only available by endorsement. The intent of listing these features to offer an overview of common and possible overages. Even though this is fine print, there is no intention to mislead anyone about possible coverage options or imply that these coverages are available is in every circumstance.