Multi Media Coverage
This can cover online advertising, intellectual property, including copyright and trademark infringement, and claims related to libel or defamation. This is typically a good addition to any privacy and cyber policy.
Hackers are getting more and more aggressive in their online tactics, specifically with Ransomware. They’ve started threatening to 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, where a third party that you rely on goes down, like a mission critical software hosted service. This may also extend to System Failure – where a power outage causes your digital systems to go offline.
Hacker Damage or Digital Asset Damage
In the event your client’s website, intranet, network, or electronically-held data suffers damage, hacker coverage will cover their costs to rebuild. IT is a large investment for most companies, even minimal network damage at the wrong time could cripple a business.