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Cyber

Cyber insurance can help protect businesses against losses from cyber exposures such as malware, ransomware, distributed denial-of-service attacks (DDoS) or any other methods used to access or compromise computer systems or networks, including assuming operational control and accessing sensitive data.

Specialists in Cyber Insurance

 

Berkley understands the emerging cyber risks and heightened regulatory demands businesses face today. With our broad range of coverages and services, we can help protect you and your company’s assets and reputation by covering costs associated with data breaches, extortion and other forensic, legal and regulatory expenses.

Check out our Berkley Locator to discover which Berkley insurance business may be right for your Cyber insurance needs. 

Protecting Your Business from Cyber Threats and Data Breaches

Cyber Insurance can provide protection if your business’ computers and networks are hacked, resulting in data breaches or other damages. These data breaches can disrupt your normal business operations, cause loss of potential revenue, provide access to personally identifiable information and create unexpected litigation expenses.  Regulations requiring businesses to notify affected customers of a data breach can also result in significant expenses.  Having the right insurance is important to protect your business from these risks.

 

Cyber Liability Coverages typically available:

 

First Party Coverages 

  • Data Breach Response – can provide necessary costs and expenses incurred from crisis management and reward, forensic and breach counsel, notification and monitoring, and data restoration.  

  • Business Interruption- can replace lost income and extra expense that a business suffers due to a data security event  

  • Contingent Business Interruption- can replace lost income and extra expenses for a third-party provider due to a data security event caused by your business 

  • System Failure Business Interruption- can replace expenses due to unintentional and unplanned interruption or failure of computer system, not due to a data security event 

  • Reputation Risk –Can pay damages due to publication of a data security event which makes allegations against a company’s reputation 

  • Ransomware Extortion- can reimburse an extortion payment made as a condition to mitigate or remove the threat of disrupting, destroying, or preventing access to a company’s data or computer system 

  • Cyber Crime – can pay for loss of money or securities transferred by a company due to fraudulent input, deletion, or change to a company’s data or computer system by an unauthorized third party 

  • Social Engineering – can pay for loss of money or securities transferred by a company or an individual who is tricked or manipulated into transferring money or divulging information by an imposter

Third Party Liability Coverages

  • Data Security and Privacy – can pay for damages resulting from a privacy event or unauthorized access to or use of a computer system due to a data security event 

  • Regulatory – can pay for damages resulting from a regulatory claim against the company or individual due to a privacy event where the theft, loss or unauthorized public disclosure of personally identifiable information or company information has been exposed 

  • Payment Card Industry (PCI)- can pay damages resulting from PCI claim made against the company as result of a privacy event where the theft, loss or unauthorized public disclosure of personally identifiable information or company information has been exposed  

  • Cyber Media – can pay damages for a cyber media event where electronic information of a business or an individual has been altered, changed, or deleted

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