Cyber Liability

Cyber claims and attacks are escalating in unprecedented frequency and intensity and pose a growing threat to the business community. The spectrum of cyber threats vary from the theft of customer account information, to attacks meant to disable a company’s computer network and website. Today, more than ever businesses need greater financial protection from cyber liability exposures.

CYBER PROTECTION PACKAGE (Digital Crime, Breach Liability & Breach Rectification)

  1. DIGITAL CRIME: Electronic transfer of funds, Cyber extortion, Telephone toll fraud and Deceptive transfer.
  2. BREACH LIABILITY: Broad liability coverage for any suits or demands related to cyber that result in a loss to your company including: Privacy liability, Website media liability, Payment card industry* and Regulatory proceedings.

    1. The Payment Card Industry Security Standards Council (PCI SSC) was launched in 2006 to manage the ongoing evolution of the Payment Card Industry (PCI) security standards with a focus on improving payment account security throughout the transaction process.
    2. The Payment Card Industry Data Security Standard (PCI  DSS) is a set of security standards designed to ensure that ALL companies that accept, process, store or transmit credit  card information maintain a secure environment.
  3. BREACH RECTIFICATION: Coverage designed to get your business back on track as quickly as possible all while protecting your company’s brand and reputation. Coverage includes: Data breach team, Business interruption and Digital asset loss.

Common Terms & Definitions:

Cyber Extortion Threat: Any credible threat or series of related threats directed at the Insured to: (i) release, divulge, disseminate, destroy or use the confidential information of a third party taken from the Insured as a result of the unauthorized access to or unauthorized use of the Insured’s Computer System; or  (ii) cause a failure of Network Security.

Deceptive Transfer Fraud: Loss of Funds resulting directly from Your having transferred, paid or delivered any Funds from Your Account as the direct result of an intentional misleading of Your employee, through a misrepresentation of a material fact (“Deceptive Transfer”) which is:

  1. relied upon by an employee, and
  2. sent via a telephone call, email, text, instant message, social media related communication, or any other electronic instruction, including a phishing, spearphishing, social engineering, pretexting, diversion, or other confidence scheme, and,
  3. sent by a person purporting to be an employee, customer, client or vendor; and,
  4. the authenticity of such transfer request is verified in accordance with Your internal procedures.

Fraudulent Electronic Instruction: An instruction which purports to have been electronically transmitted, submitted, or approved by You, but which was in fact fraudulently transmitted, submitted or approved by someone else without Your knowledge or consent.

Telephone Toll Fraud: Voice telephone long-distance toll calls which were incurred due to the fraudulent use or fraudulent manipulation of an Account Code or System Password required to obtain access to a Voice Computer System owned or leased by You, installed on Your premises, whose System Administration is performed and controlled by You (“Telephone Toll Fraud”).

Business Interruption: Includes disaster recovery or computer forensic investigation efforts, incurred by You during the Period of Restoration resulting directly from a Claim reported to You which occurs during the Policy Period.

Internet Media: Electronic publishing, dissemination, releasing, gathering, transmission, production, webcasting, or other distribution of (1) Internet Content on the Internet on Your behalf or by You; or (2) Social Media Content on a Social Media Website but only if distributed by or on behalf of You.

Note: Coverage includes

  1. product disparagement, trade libel, infliction of emotional distress, mental anguish, outrage or outrageous conduct;
  2. false light, public disclosure of private facts, or the intrusion and commercial appropriation of a name, persona or likeness;
  3. plagiarism, piracy (excluding patent infringement), or the misappropriation or unauthorized use of advertising ideas, advertising material, titles, literary or artistic formats, styles or performances;
  4. the infringement of copyright, domain name, trademark, trade name, trade dress, title or slogan, service mark, or service name; or
  5. negligence with respect to Your creation or dissemination of Internet Content

Please be advised that the above titles, headings, definitions, terms and descriptions are for illustrative purposes only and are not a contract. Please refer to the actual policy and all endorsements for a complete description of coverage as certain Conditions & Exclusions apply.


Submission Requirements for NY, NJ, CT, and PA:

  1. Firm’s current letterhead.
  2. Fully completed, signed & dated Cyber Protection Package Application
  3. Current Cyber Liability Declarations Page & Material Endorsements, if any.
  4. Signed and Dated NY Reg.194 for New York Applicants.

Very Important. All submissions are individually underwritten to determine program eligibility and terms.

Email or fax completed forms to:
Fax: 914.592.6508

Questions? Call 914.592.6505