Below you can find a list of coverages included in P250 product:
|Common Language Description
|Coverage for (1) defense expenses, (2) monetary damages the insured becomes legally obligated to pay including pre-judgment interest, post judgment interests, judgments or settlements; and (3) punitive, exemplary, or multiplied damages but only to the extent such damages are insurable under the applicable law most favorable to the insurability of such damages.
|Coverage for amounts the insured is legally obligated to pay under a Payment Card Services Agreement including: (1) monetary assessments; (2) fines; (3) penalties; (4) chargebacks; (5) reimbursements; (6) fraud recoveries; (7) forensic investigation, including any PFI; and (8) costs or expenses incurred in connection with a PCI DSS compliance audit.
|Coverage for (1) any amount the insured is legally required to deposit in a fund for the payment of consumers; (2) fines; or (3) penalties imposed by a federal, state or foreign governmental entity due to a privacy incident.
|Cowbell Breach Fund
|Coverage for losses and expenses directly associated with recovery activities after a cyber incident. This can include incident response, investigation, forensics, crisis management, notification to customers, call center services, overtime salaries, post-event monitoring services such as credit monitoring, and healthcare records remediation for impacted customers.
|Additional Breach Fund Costs Endorsement
|Coverage for the cost to replace, restore, recreate or recover data residing on an insured’s computer system that is compromised as a direct result of a network security incident. If such data cannot be replaced, restored, recreated or recovered, then data restoration is limited to the costs associated with that determination.
|Coverage for losses from a privacy incident or network security incident resulting from a credible threat or series of threats, such as a ransomware attack. This can include expenses to investigate the cause of an extortion threat and the payment amounts, including the actual costs to execute such payment (whether in digital or traditional currency).
|Business Impersonation Costs
|Coverage for the costs to inform potentially impacted parties (individuals, vendors or suppliers) of fraudulent communications where a third party impersonated the insured to deceive them or any vendor or supplier into sharing credentials or protected information.
|Reputational Harm Expense
|Coverage for the income loss that the insured sustains during a period of indemnity that directly results from a communication via any medium specifically arising from an actual or alleged incident that threatens to, or actually does negatively harm the insured’s reputation.
|Business Interruption Loss
|Coverage for the income loss and extra expenses due to the actual and measurable interruption or degradation in performance of the insured’s computer system. This would also include a voluntary shutdown of the insured’s computer system when such action is taken to minimize, avoid or reduce further damage as a result of a covered incident.
|Contingent Business Interruption Loss
|Coverage for the income loss and extra expenses due to the actual and measurable interruption or degradation in performance of a service provider’s computer system. This would also include a voluntary shutdown of computer systems when such action is taken to minimize, avoid or reduce further damage as a result of a covered incident.
|Coverage for the income loss and extra expenses due to a system failure (see policy wording) which causes the actual and measurable interruption, suspension, failure, degradation or delay in performance of the insured’s computer system.
|Cyber Crime Loss
|Coverage for loss of money or digital currency directly resulting from any of the following covered events: (1) social engineering (2) reverse social engineering, (3) fraudulent transfer of funds. It also provides coverage for charges incurred by the insured from its telecommunications provider as a result of a telecommunications hack.
|Coverage for the reasonable and necessary costs, subject to the insurer’s prior consent, to replace, remediate or improve the insured’s computer system. Costs must be incurred as a direct result of a network security incident.
|Criminal Reward Costs
|Coverage for amounts offered by the insured for information that leads to the arrest and conviction of any individual(s) committing or trying to commit any illegal act related to any coverage under this policy.
|California Consumer Privacy Act (CCPA)
|Coverage for the amounts that the insured is legally obligated to pay in responding to a CCPA compliance audit or investigation that directly results from a privacy or a network security incident.
|General Data Protection Regulation (GDPR)
|Coverage for the amounts that the insured is legally obligated to pay in responding to a GDPR compliance audit or investigation that directly results from a privacy or a network security incident.
|Liability costs coverage for intellectual property infringement, other than patent infringement, resulting from the advertising of an insured’s services. This builds upon the online media liability coverage in the base form to expand to printed advertising. This includes social media.
|Coverage for the net profit or net loss before taxes and interest that the insured could have reasonably earned or net loss that the insured could have reasonably avoided due to a missed bid or request for proposal (RFP), and the costs of retaining a forensic accountant to determine such amount. (for construction risks only)
|Provides a carve back to the breach of contract exclusion to cover contractual damages (for manufacturing risks only)
|Utility Fraud Attack
|Coverage for the additional amounts incurred due to the manipulation or deception, by an unauthorized third party for its use, of the insured organization’s natural gas, oil, or internet.
|Coverage for the financial loss resulting from the unauthorized access or unauthorized use of computer systems to mine for digital currency that directly results in additional costs incurred by the insured organization for computing resources.
|Contingent System Failure
|Coverage for the income loss and extra expense due to a system failure (see policy wording) which causes the actual and measurable interruption, suspension, failure, degradation or delay in performance of a service provider’s computer system.
|Full System Failure
|Coverage that expands the definition of system failure to include an accidental, unintentional, or negligent act or an error or omission committed by the insured or the service provider. This expands beyond the administrative error required to have been while operating or maintaining computer systems.
|Contingent Bodily Injury/Property Damage
|Coverage for liability expenses the insured incurs for (1) bodily injury, sickness disease, or death, (2) damage or injury to or destruction of tangible property (3) impairment to or loss of use of tangible property, all resulting directly from an network security incident (conditions apply).
|War Exclusion Endorsement
|The War Exclusion Endorsement form is required and will be automatically included on all Prime 250 business.
|Extortion Threat Sublimit Endorsement