What's most important coverage on my cyber policy?
If you haven't been living under a rock then I'm sure you have read about Cyber Coverage. In these crazy times it can be overwhelming to pick a cyber policy and know what coverage you should have. We've taken the guesswork out of it and gathered what we think are some of the most important coverage's in your cyber policy.
1.) First & third party Coverage:
What is First Party Coverage? First-party insurance is obtained for the policyholder (otherwise known as the insured) to cover losses or damages to the policyholder’s property or themselves.
What is Third Party Coverage? Third-party insurance is purchased to protect the insured against liability for losses or damages the insured causes to another individual or their property
2.) Social Engineering Coverage
3.) Invoice Manipulation Coverage
5.) Business Income First & Third Coverage
6.) PCI Fines and penalties
7.) Ransomware & Extortion
8.) Expansive Business Interruption Triggers
9.) Bring your Own Device Coverage