OSP Network Interruption
Outsourced Service Providers (OSPs) provide a range of valuable services to organizations such as web hosting, payment processing, data collection and storage. Our Cyber Insurance’s OSP endorsement extends Network Interruption cover to include losses and mitigation costs arising from an OSP security or system failure.
System Failure
Not all system failures are attributable to a cyber security breach, unintentional and unplanned outages can also result in network interruption losses. Our Cyber Insurance’s System Failure endorsement extends Network Interruption cover to include losses and mitigation costs resulting from an internal system failure not arising from a cyber security breach.
Digital Media
In a fast moving digital environment, it is now easier than ever for companies to inadvertently infringe on trademarks, misappropriate creative material or inadequately check facts. The Digital Media extension covers damages and defence costs in connection with a breach of third party intellectual property or negligence in connection with electronic content.
Telephone Hacking
In addition to online hacking, businesses also face the risk of telephone hacking. Our Cyber Insurance’s Telephone Hacking extension covers charges from unauthorized access and use of a business’s telephone system, regardless of whether this is initiated on or off its premises.
Computer Crime
Fund transfer fraud is a form of computer crime where criminals use details obtained from a cyber security breach to fraudulently transfer funds from an account maintained at a financial institution. Our Cyber Insurance’s Computer Crime extension covers direct financial loss from fraudulent electronic fund transfers arising from a cyber security breach.
Goodwill Coupons
Cyber incidents can negatively impact a customer’s relationship with an organization. Goodwill coupons, such as rebates or discounts, can go a long way to reverse that ill-feeling. Our Cyber Insurance’s Goodwill Coupon extension provides flexibility to offer customers a Goodwill Coupon instead of Credit and ID Monitoring if confidential information has not been adequately protected or if individuals have been unable to access a service due to disruption.
Criminal Reward Fund
A Criminal Reward Fund may be paid for information that leads to the arrest and conviction of individuals who have or are attempting to commit an illegal act relating to cover provided under a Cyber Insurance policy. This relates not only to hackers and cyber criminals, but includes also rogue employees, thus rewarding staff who notice and report suspicious behaviour.
