on Sept 11, 2024 at 1:49 PM

Cyber insurance


From: Laura Swann

User Posts: 1 - New User

I have not been able to join on the last few monthly calls and know I am missing out on helpful conversation.
I am curious about cyber insurance and any information or experience you could share about if you have it, what it covers, how to evaluate what you need, is it costly? 
I have been tasked with exploring this coverage and will reach out to our broker but wanted to hear from your experince first.
Thank you in advance!

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on Oct 3, 2024 at 1:14 PM

From: Natalie Quan

User Posts: 2 - New User

Hi Laura - we use CAMICO

on Oct 3, 2024 at 1:26 PM

From: Jenny Norris

User Posts: 2 - New User

Laura,

Sorry, just saw this.  We have cyber through a company called Coalition. We have $1 mil. coverage and $5k deductible - costs under $3,000 per year.  

Here are our coverages:

A. NETWORK AND INFORMATION SECURITY LIABILITY $1,000,000 $5,000

B. REGULATORY DEFENSE AND PENALTIES $1,000,000 $5,000

C. MULTIMEDIA CONTENT LIABILITY $1,000,000 $5,000

D. PCI FINES AND ASSESSMENTS $1,000,000 $5,000 

E. BREACH RESPONSE $1,000,000 $5,000

F. CRISIS MANAGEMENT AND PUBLIC RELATIONS $1,000,000 $5,000

G. CYBER EXTORTION $1,000,000 $5,000 $5,000

H. BUSINESS INTERRUPTION AND EXTRA EXPENSES $1,000,000

I. DIGITAL ASSET RESTORATION $1,000,000 $5,000

J. FUNDS TRANSFER FRAUD $250,000 $25,000