Cyber Liability Insurance Group | Polaris Risk Management

Cyber Liability

First Party Coverages

Electronic Media – Protection where a GL policy’s advertising injury doesn't cover.
First-Party Business Interruption – Coverage if a virus interrupts your business operations and provides lost business income.
Cyberextortion – Covers hacker ransom demands and expenses.
First-Party Data Asset – Covers expense to recover lost data (depending on the risk).

Third Party Coverages

Network Security – Covers your liability if hackers use your system.
Privacy – Covers your liability if private information is released.

Notification Expenses – I many states you are required to notify all potential victims within 9 days.
Credit Monitoring – Up to 1 year of credit monitoring services for those exposed.
Credit Repair Services – 1 year of services to repair credit damage resulting from actual identity theft.
Crisis Management – Public relations sublimit to protect the image of the insured.
Regulatory Defense and Expenses – Provides defense cost coverage and in some cases covers penalties where insurable.

Claim Scenario

Theft of Digital Assets

A regional retailer contracted with a third party service provider. A burglar stole two laptops of the service provider containing the data of over 800,000 clients of the retailer. Under applicable notification laws, the retailer – not the service provider – was required to notify affected individuals. Total expenses incurred for notification and crisis management to customers was nearly $5,000,000.

More Scenarios

Significant Cyber Liability Exposures Include:

Storing social security numbers, drivers license numbers, bank account numbers of clients or employees
Access to client health information
In the process of going paperless or storing paper files
Providing online access for members
Selling, donating or recycling computers

Investment Advisors
Posting pictures or information about members online
Relying on a computer network on a daily basis
Allowing laptops to be removed from the premises
Maintaining a social networking page
Maintaining a blog

Need a quick estimate? Simply fill out the brief information in our secure online form

For more information or to receive a quote, please contact Sarah Philen at (888) 363-4747 x 2027 or via email at sphilen@polaris-ins.com or cyber@polaris-ins.com