Cyber Liability Insurance from ProWriters

We offer Cyber & Privacy liability insurance coverage for companies of all sizes, from small businesses to large corporations.

For large, billion dollar companies and up, we can obtain custom Cyber Liability Insurance terms. These companies can benefit from our long-standing partnership with the top 30+ cyber markets. They can also take advantage of our ability to customize coverage to address their specific needs.

For small start-ups to middle market companies, we offer broad liability coverage from multiple top markets. This keeps your clients’ cyber security insurance costs low by keeping from paying for more coverage than they need. It also keeps them appropriately covered relative to their risk.

What does Cyber Liability Insurance cover? These policies cover a wide range of first party exposures for business owners:

IT Forensic Costs

The costs to determine what information may have been breached or accessed improperly. We know your clients are likely more concerned about data loss, the loss of customers, reputational harm, or legal defense costs. However, tracking down the cause of the computer systems breach is also an important (and costly) endeavor.

Notification Costs

The costs to notify individuals, businesses, regulators and to run a call center related to the notification.

Credit Protection Costs

These are the costs to provide credit monitoring services to the affected parties. This is often offered as a part of the notification.

Crisis Management Costs

This covers media liability costs, including the cost to hire a public relations firm. How your clients internally publicly respond to a breach is crucial. The first several hours plays a pivotal role in how they come out on the other side of the incident.

Crime and Social Engineering

This is coverage applies when a stolen username and password is used to direct funds out of your account. It’s also referred to as involuntary parting of funds coverage. Social Engineering is when a business is tricked into sending their funds out of their account. Often this “voluntary parting of funds” is perpetrated via a phishing campaign.

Cyber Extortion

Hackers are getting more and more aggressive in their online tactics, specifically with Ransomware. They may destroy, damage, or otherwise incapacitate your network or data if you don’t meet their ransom demands. Coverage is available that includes ransom payments during extortion.

Cyber Business Interruption

Coverage is available for companies that rely heavily on the internet or their network for their revenue. General Liability policies typically do not cover this. If you or your client has this exposure, you need to specifically address it with your cyber policy.

This may also include dependent business interruption. This is when a third party that you rely on goes down, like a mission critical software hosted service. It may also extend to System Failure. This is when a power outage causes your digital computer systems to go offline.

Digital Asset Damage

This covers the cost to rebuild your client’s:

• Website
• Intranet
• Network
• Electronically-held data

IT is a large investment for most companies, even minimal network damage at the wrong time could cripple a business.

This covers costs related to a breach of Personally Identifiable Information (PII.) PII includes, but is not limited to:

• Credit card numbers
• Social security numbers
• Bank account information
• Personal health information
• Sensitive corporate information
  

When you have a Cyber Liability Insurance policy, your third party liability insurance will cover costs related to:

• Breach of contract
• Negligent protection of data
• Network security breaches
• Transmission of software viruses
• Denial of service attacks
• Defense of regulatory actions related to a breach as well as possible fines and penalties
• PCI fines and penalties and assessments

Multi Media Coverage

This can cover:

• Online advertising
• Intellectual property
• Copyright and trademark infringement
• Libel or defamation claims

This is typically a good addition to any privacy and cyber policy.

Vendor Panels

Not only do you get access to some of the best claims teams from the top carriers, but you get access to a set of panel vendors that include the top IT Forensic firms, Legal Defense, PR, etc. to guide you through the breach response process, giving you expert advice every step of the way.

Cyber Risk Management

Each carrier’s policy comes with a different set of cyber risk management tools from access to risk management platforms, IT security teams available for consultation, round the clock scanning of our network to ensure any vulnerabilities are discovered and mitigated before they turn into a cyber event.

In addition to these protections, ProWriters and our carriers give your clients access to excellent risk management and loss prevention services. These services may help your client avoid a breach all together.

If your client does suffer a breach, they’ll be thankful for the access ProWriters offers to exceptional post-breach services. This includes access to a breach coach who can assist your client right when a breach occurs. They can also provide access to the best vendors in this space at pre-negotiated rates.