Cyber Liability is a generic term for an insurance policy that includes one or more of the following coverages:
Network Security coverage – Coverage against allegations/claims made by third parties that were economically harmed by a breach in the insured’s network. It also covers identity theft and private information that is made public.
Privacy coverage – Extends network security coverage to paper files.
Digital Media coverage – Coverage for content injury claims such as mis-use or unauthorized use of copyrighted material.
Types of Cyber Liability Coverage
Digital Asset Coverage – Coverage for the loss of data and/or network resources.
Digital Business income coverage – Covers the loss of income due to a network intrusion and/or other computer event that makes the network inaccessible or operates slowly.
Technology Errors & Omission (Tech E&O), also known as Errors and Omissions Liability coverage, is coverage specifically designed for technology companies.
Any individual or firm that provides technology services or products should consider obtaining Tech E&O coverage. A Tech E&O policy protects your firm by providing defense cost and covering potential settlements from any alleged or actual errors.
Sample Tech E&O claims include:
A firm may have a suit arise because the customer is dissatisfied with the performance of the product or the customer’s expectations were higher than the capabilities of the product.
Client misuse of a product can be the basis for a claim. Your product may not be defective, yet you will have to defend yourself to demonstrate this.
You may believe having a General Liability policy will provide you and your company with enough protection. Please review our Tech E&O resources to discover the differences between a Tech E&O policy and a General Liability policy. We have an extensive list of Policies and Applications for you to choose from, or you can also contact us to let us assist you in finding the correct application for your situation.
Cyber liability coverage may also be called eCommerce liability coverage. Please contact INSUREtrust for assistance with your particular Cyber Liability needs and questions.