01 MARCH SARRG ADDS CYBER LIABILITY COVERAGE
Policyholders Beginning March 1 Upon Renewal Will Have a 50,000 Limit of Data Breach Coverage Embedded in their General Liability Policy
With a mission to best protect its policyholders, SARRG is addressing the growing concern for cyber security with new cyber liability coverage.
Data security breaches and compromises of customer and employee data continue to be reported at high frequencies. When a breach occurs, a small business needs to be ready to respond quickly and effectively to mitigate its exposure to brand damage and legal liability.
There are so many different ways that customer data can be breached — the loss of a company laptop or cell phone could trigger a data breach situation. This endorsement covers you and your company for liability and extra expenses affiliated with data breaches.
Information Security and Privacy Liability
Covers damages and expenses resulting from a violation of a privacy law for:
- theft, loss, or unauthorized disclosure of personally identifiable non-public information or third party corporate information
- acts or incidents that directly result from a failure of computer security to prevent a security breach
- failure to timely disclose an incident in violation of any breach notice law
o prohibits or restricts the disclosure, sharing or selling of a person’s personally identifiable non-public information;
o requires access to personally identifiable non-public information or to correct
o incomplete or inaccurate personally identifiable non-public information after a request is made by a person
o mandates procedures and requirements to prevent the loss of personally identifiable non-public information
- failure to administer (a) an identity theft prevention program or (b) an information disposal program required by regulations and guidelines
Privacy Breach Response Services
- Provides breach services that include:
- forensic and legal assistance from a panel of experts to help determine the extent of the breach and the steps needed to comply with applicable laws
- notification to persons who must be notified under applicable law
- discretionary notice to individuals potentially affected by the breach in which there is a resulting risk of financial, reputational or other harm
- credit monitoring and fraud protection services to affected individuals; alternatively, insureds may choose to offer their customers a data monitoring service
- public relations expenses, crisis management consultants, notifications to customers where notifications are not required by law, government mandated public notices related to breach events.
Regulatory Defense and Penalties
Covers defense expenses and penalties resulting from a regulatory proceeding resulting from a violation of privacy law.
Website Media Content Liability
Covers damages and expenses for one or more of the following acts committed during the course of media activities:
- Defamation, libel or slander
- Violation of the rights of privacy of an individual
- Invasion or interference with an individual’s right of publicity
- Plagiarism, piracy, misappropriation of ideas
- Infringement of copyright
- Infringement of domain name, trademark, trade name, trade dress, logo etc
- Improper deep-linking or framing within electronic content
PCI Fines and Penalties
Indemnifies the insured for PCI fines and expenses that they may incur following a breach.
Cyber Extortion Loss
Coverage for payments made to prevent or stop a threat to breach computer security, destroy or corrupt data, or interrupt computer systems.
Enhanced First Party Computer Security Coverage
Enhanced coverage for first party computer security for clients after a security breach during the period of restoration, including data restoration, data recreation and system restoration costs. Enhanced coverage also includes costs related to business interruption, lost income and extra expenses from the time of an attack