Cyber Liability Insurance
Cyber Liability Coverage Options
Cyber liability coverage options include the following:
- Forensic Investigations
- Litigation Expenses
- Regulatory Defense Expenses and Fines
- Crisis Management Expenses
- Business Interruption
- Cyber Extortion
- Betterment costs to improve computer security systems after a breach
Liability to Others (Third Party) Coverage:
- Network Security Liability provides coverage for errors, omissions, acts, negligence, or breaches of duty that have been allegedly or actually committed by an insured party that results in the transmission of a “computer virus” to a third party by a “computer system.”
- Privacy Liability covers acts, errors, omissions, negligence, or breaches of duty that have been allegedly or actually committed by the insured party and results in a breach of privacy.
- Electronic Media Liability provides coverage for the actual or alleged infringement of copyrights, slogans or service marks, trademarks, and trade dresses; plagiarism; libel and slander; and privacy rights violations by the insured party on the Named Insured’s website.
- Funds Transfer Fraud Liability covers actual or alleged errors, breaches of duty, acts, omissions, and negligence of the insured party that results in deliberate, unauthorized, and falsified instruction electronically transmitted to a financial institution for the withdrawal of funds from an account and to transfer, pay, or deliver money or securities from such account under the false use of the insured party’s identity without the knowledge or consent of the Named Insured.
Losses Incurred by the Named Insured (Privacy Breach Expenses):
- Associated fees, costs, or expenses to determine the individuals whose “personally identifiable information” is compromised.
- Costs of notification and other costs, fees, or expenses incurred in order to comply with “breach notification laws.”
- Expenditures associated with establishing and maintaining a call center dedicated to the use of those parties whose privacy is breached.
- Costs arising from the provision of credit monitoring services to individuals whose “personally identifiable information” is unlawfully accessed or acquired.
Make Sure Your Protected Against Cyber Threats
At Beacon Insurance Agency, we know that churches face many dangers in serving the world around them, but we’re fully committed to providing the clients in our care with the tools they need to navigate the liabilities that may arise as they minister to the worldwide community. We’re highly experienced and dedicated to meeting the needs of our clients so that technology can be a means of ministry, rather than a risk factor.
View this short video to learn more about protecting your church against cyber threats.