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Cyber Insurance Policy Checklist


Adequate and comprehensive cyber insurance coverage is critical whether you belong to the accounting industry, healthcare & medical industry, e-commerce,  education, or tech sector.

How to read your cybersecurity insurance policy term for adequate coverage?

How would you know if your cyber liability policy is comprehensive?

Here’s a checklist to evaluate your cyber insurance for comprehensive coverage:

  • Enterprise Security Event Liability
    Coverage for when you are sued for monetary or non-monetary damages because of a cyber breach.
  • Privacy Regulation Liability
    This liability coverage is for when you face any action by a regulatory body for a cyber event.
  • Website Media Coverage
    This provides coverage for copyright infringement, libel, slander, and other media coverages that occur on your website.
  • PCI Fines Coverage
    This extends the coverage of the policy to cover any fines associated with violating the PCI-DSS law.  Also, look for credit card and fraud monitoring services for your customers as a part of the coverage.
  • Breach Preparedness Information Services Before A Claim
    This coverage (may be added for an endorsement or small fee) allows you to talk to a lawyer if you believe you might have a breach and wish to stay ahead of any potential issues.
  • Forensic/Legal
    This will pay for the computer investigation of a breach as well as the legal consultation costs associated with any potential breach of privacy law.
  • Crisis Management & Notification Costs
    This is the coverage for the cost of notifying people—including any you are not legally obligated to notify—to inform them that their personally identifiable and protected data may have been lost, stolen, or accessed.
  • Business Service & System Disruption
    These cover any net profits losses or extra expenses from a data breach.
  • System & Service Failure
    These two coverages extend overall business interruption to include when an outage is not caused by a cyber incident.
  • Data Recovery, Restoration, & Digital Restoration Expense
    This will pay the costs associated with recovering any data that is lost, stolen, damaged, destroyed, disrupted, or otherwise corrupted.  This coverage is also known as electronic vandalism coverage.
  • Cybercrime Coverage
    Ransomware, Cyber Extortion, Invoice Manipulation, and Telecommunication Theft should be available as a sublimit and/or endorsement for the full limit, if not already a part of the cyber policy.