Coverage Definitions

Below you can find a list of coverages included in P100 product:

CoverageCommon Language DescriptionFieldCoverageId
SECURITY BREACH EXPENSECoverage for losses and expenses directly associated with recovery activities in the aftermath of a cyber incident. This can include investigation and forensic services, notification to customers, call center services, overtime salaries, post-event monitoring services such as credit monitoring for impacted customers and more.securityBreachExpenseLimit1
SECURITY BREACH LIABILITYCoverage for third party liability directly due to a cyber incident and that the insured becomes legally obligated to pay. This includes defense expenses, compensatory damages, and settlement amounts, and fines or penalties assessed against the insured by a regulatory agency or government entity, or for non-compliance with the Payment Card Industry Data Security Standards.securityBreachLiabilityLimit0
EXTORTION THREATSCoverage for loss resulting from an extortion threat that is discovered during the policy period. This can include approved firms and resources that determine the validity and severity of threat, interest costs associated with borrowing for the ransom demand, reward payment that leads to conviction and arrest of party responsible, the ransom payment and other reasonable expenses.extortionThreatsLimit2
RESTORATION OF ELECTRONIC DATACoverage for the costs to replace or restore electronic data or computer programs in the aftermath of an incident. This can also include the cost of data entry, reprogramming and computer consultation services to restore lost assets.restorationOfElectronicsDataLimit3
BUSINESS INCOME AND EXTRA EXPENSECoverage for the losses and costs associated with the inability to conduct business due to a cyber incident or an extortion threat. Business income includes net income that would have been earned or incurred. Note that business interruptions due to system failure or voluntary shutdown are not covered.businessIncomeCoverage4
PUBLIC RELATIONS EXPENSECoverage for the fees and costs to restore reputation in response to negative publicity following a cyber incident or a security breach. This includes, for example, the fees associated with the hiring of a public relations firm that handles external communications related to the breach.publicRelationsExpenseLimit5
COMPUTER AND FUNDS TRANSFER FRAUDCoverage for the losses due to a fraudulent computer operation that causes money (or other property) to be transferred from an insured’s account. This also covers losses incurred by a fraudulent instruction directing a financial institution to debit money from the insured’s transfer account.computerFraudLimit6
RANSOM PAYMENTSCoverage for the reimbursement of the monetary
value of any ransom payment made by the insured
to a third party in response to a ransom demand to
resolve an extortion threat.
SOCIAL ENGINEERINGCoverage for a loss resulting from a social engineering incident where the insured is
intentionally misled to transfer money to a person, place or account directly from good faith reliance
upon an instruction transmitted via email by an imposter. A documented verification procedure requirement needs to have been completed in order to be provided coverage
Contingent Business Interruption LossCoverage 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.CONTINGENT_BI
HARDWARE REPLACEMENT COSTSCoverage for the cost to replace computers or any
associated devices or equipment operated by the
insured that are unable to function as intended due
to corruption or destruction of software or firmware,
resulting from a cyber incident.
TELECOMMUNCIATIONS FRAUDCoverage for the cost of unauthorized calls or
unauthorized use of the insured’s telephone
system’s bandwidth, including but not limited to
phone bills.
POST BREACH REMEDIATION COVERAGECoverage for labor costs incurred to resolve
vulnerabilities or weaknesses in the insured’s
computer system that are identified by an
independent security firm after a cyber incident.
Identified upgrades or improvements must reduce
the probability or potential damage of a future
incident to qualify.
WEBSITE MEDIA CONTENT LIABILITYWebsite Media Liability provides coverage for a loss and defense expenses from intellectual property infringement, other than patent infringement, related to media content on the company website or its social media accounts only.websiteMediaContentLiabilitySubLimit12
Extortion Threats & Ransom PaymentCoverage for loss and defense expenses as a result of an investigation, demand or Regulatory Proceeding, brought by or on behalf of an administrative or regulatory agency, or any federal, state, local or foreign governmental entity in an official capacity.EXTORTION_THREATS_AND_RANSOM_PAYMENT_V516
Business Income, Contingent Business Income & Extra ExpenseCoverage for the losses and costs associated with the inability to conduct business due to a cyber incident or an extortion threat. Business income includes net income that would have been earned or incurred. Note that business interruptions due to system failure or voluntary shutdown are not covered.BI_EXTRA_EXPENSE_V517
Additional InsuredsADDITIONAL_INSURED18