Cyber risk is an exposure that no modern business can escape, and the financial impact of system interruption, privacy and cybercrime events are now felt across all industries. With solutions designed for integrators of all sizes, our cyber policy provides cutting-edge coverage to protect against the emerging threats of the digital age. Key features include:
Each and every claim limit
By providing coverage on an each and every claim basis, we ensure that our policyholders aren’t restricted by a policy aggregate and that the full benefits of coverage are available each time a crisis strikes, even if there are multiple cyber incidents in the same policy period.
Management liability
Historically, there has been confusion as to whether a cyber or management liability policy should pay in the event of a suit being made against the directors and officers due to a cyber attack. We aim to remove that confusion by providing affirmative coverage for liability against senior executive officers in the event that the management liability policy doesn’t respond.
Comprehensive computer crime cover
We provide comprehensive crime cover for a wide variety of third-party electronic crimes involving the theft of money and fraud, including phishing scams, electronic wire transfer fraud, telephone hacking and social engineering. Our policy also covers the personal assets of CEOs in the event that their electronic funds or identities are stolen.
System repair costs
In addition to standard data repair and reconstitution, we provide a full limit for costs associated with reconfiguring and rebuilding systems and networks after a system failure or corruption resulting from a cyber attack. This includes staff overtime costs and external specialist consultants.
Full retroactive cover
Cyber attacks are often discovered long after they first occur. Our policy is one of the very few to offer full cover for events that happened prior to the first inception date of the policy, aligning coverage with the point when the breach was first discovered, rather than when it first occurred.
For more information on this issue or any other aspects of our insurance programs, please contact me (Paul Barnard, CSIA Insurance Program Manager) at paulbarnard@csia-insurance.com or 1-610-507-6595.