Cyber Liability addresses both the first-party and third-party risks associated with e-business, the Internet, networks and informational assets. It is insurance coverage for liability that arises out of the unauthorized use of, or unauthorized access to, electronic data or software within your network or business. It also provides coverage for liability claims as a result of spreading a computer virus or malicious code, computer theft, extortion, or any unintentional act, mistake, error or omission made by your employees while performing their job.
First-party protection includes coverage for loss of digital assets, non-physical business interruption and extra expense, cyber extortion, cyber terrorism and security events cost. Third-party protection includes network and security privacy liability, employee privacy liability and electronic media liability.
Cyber Liability policies can be designed to fit the specific needs of your business.