Privacy Liability: Covers the cost associated with a breach for defense and indemnity
Regulatory: Covers fines and penalties from state and federal agencies including HIPPA.
Security Breach Response: This provides coverage for the IT Forensics, Lawyers, Notifications, PR firm, Credit Monitoring, Call Centers, etc. This is the coverage that notifies your clients of a breach, secures your network, and notifies the attorney general in all states you do business. This is the triage center for a claim.
Security Liability: Suits and costs that arise due to a distribution of malicious code
Media Liability: This coverage applies to your website and print material for copywrite material, liable, slander, and if someone were to hack your site and add malicious information
Extortion: This is for if a terrorist (bad guy) were to request funds either to stop a disruption or prevent a disruption in your network. Example #1 – your network is locked and they request funds to give you the password to unlock your network. Example #2 – bad guy tells you they will launch a DDOS attack (denial of services attack) if your do not pay bitcoin. (DDOS attack will overload your network with information and then the network will go down)
Business Interruption / Data Restoration: This is coverage provided to the insured if their network has been damaged and they are down for an extended period of time. They will be able to recoup the funds they would have earned during the time they were down. The data restoration is provided to restore data that was damaged or deleted etc. during a breach. The first question on the application asking if you back up your data once a week off site pertains to this insuring clause (Insuring Clause G). If the insured does not back up their data once a week off site then they do not receive this insuring agreement.
PCI Assessments (Payment Card Industry): The PCI fines and assessments are assessed if the insured is not in compliance with the PCI rules of accepting cards, or there is a breach of card information. The PCI will typically make the insured aware that they need to amend their practices, and if they don’t they will start getting fines/ penalties. Typically we are working with tier 3 and tier 4 retailers.