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Cyber Liability

Prospect Insurance Brokers offer total protection for a broad range of network-related exposures. Electronic records, HIPAA and Privacy Protection Laws have made these activities a fundamental risk factor for any business holding individuals’ personal information. Losses are increasing as a result of public awareness of identity theft and hacking, and the initiation of class action lawsuits.

We can offer the following coverages:

  • Network Security and Privacy Protection – including coverage for both online and offline information, virus attacks, denial of service, HIPAA coverage, new Red Flag Regulations, full regulatory defense coverage, regulatory fines/penalties coverage, and more.

  • Notification & Credit Monitoring Costs Insurance – includes all necessary legal, PR, advertising and postage expenses incurred by the insured to notify third persons of a breach of information. Will also pay for credit monitoring for all affected people.

  • Customer Data Recovery Costs Insurance – coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted.

  • First Party Coverage – loss of digital assets and Business Interruption Expense.

  • Cyber Extortion – cover as a direct result of a credible threat or series of threats, including a demand for extortion monies.

  • Cyber Terrorism – cover for a total or partial degradation in service, or failure of the Insured’s computer system which is caused directly by an Act of Terrorism.

  • Reputational Harm – loss of income due to adverse media reports caused by a cyber breach.

Limits Available – Up to USD10,000,000

Contact: Jamie Webb (jwebb@prospectbrokers.com)