Explanation of Insuring Agreements
The Limit of Liability is the aggregate amount that will be paid by the carrier
for defense and damages. This aggregate will include the following sublimits,
which are part of this limit: Information Security & Privacy Liability,
Regulatory Defense & Penalties, Website Media Content Liability, Public
Relations, Payment Card Industry (PCI) Fines & Penalties.
Notification Limit is the amount of
records that the carrier will provide for notification, call center services,
and credit monitoring. This limit is separate from and in addition to the
policy limit of liability aggregate. The Legal & Forensics costs are
sublimits that are part of the Notification Limit. The Notification Limit does
not have a deductible, however it does have a threshold. This threshold only
pertains to the call center and credit monitoring services. If the breach
affects over 100 records, these services are activated. If it does not, all
notification will be provided except the call center and credit monitoring
& Privacy Liability is inuring agreement A and will pay on behalf of the insured damages and claims expenses for:
Regulatory Defense & Penalties will pay on behalf of the insured claims expenses and
penalties assessed by regulatory agencies.
- Failure to protect private information
- Transmission of a virus from your system to
- Failure to notify individuals of a breach
PCI Fines &
Penalties will indemnify the insured for PCI fines and costs.
Website Media Content will pay on behalf of the insured damages and claims expenses for
allegations of copyright infringement and defamation arising from the insured’s
Cyber Extortion will indemnify the insured for loss paid as a result of an extortion
threat to protect private information.
Legal & Forensics will provide the insured with a computer security expert to determine the
extent and cause of a breach. It will then provide for an attorney to determine
with which notification laws the insured will need to comply.
Public Relations will pay for a public relations consultant to help the insured introduce
the breach to the public.
Fraud Resolution will provide services to the affected individuals in restoring their