Term Cybersecurity Insurance
Code FN-1500.1755
Definition Programs that provide insurance, usually to organizations, offering protection from losses incurred in the wake of a computer system security breach. Cyber attacks may result in malware or spyware damage, crashed servers, hacked email accounts, cyber extortion or stolen identities. At worst, corporate accounts might be compromised and their funds drained. Cyber security coverage also protects policy holders from losses due to circumstances in which computers are used to commit crimes against the company and may cover costs related to IT forensics investigation, data restoration, legal liability and customer notification. Third party coverage protecting customers and partners may also be an option.
Created 12/20/18
Changed 12/20/18
Use References Computer Fraud Insurance
Cybercrime Liability Insurance
Cyber Liability Policies
Cyber Risk Insurance
Data Breach Insurance
See Also References Computer and Information Sciences Research (TR-6500.1500)
Cybercrime Prevention (FN-1500.1750)
Cybercrime Reporting (FN-1700.1530)
Cybersecurity Risk Assessment (TP-3350.3450-140)
Internet Fraud Reporting (FN-1700.1470-330)
Internet Safety Education (JR-8200.3400)
Legal Expense Insurance (FS)
External Classification Terms Community Crime Prevention (NPC I02.03)
Crime Insurance (UW 6.1.06.01)
Crime Prevention (NTE I20)
Crime Prevention (UW 6.1.01.01)
Insurance Benefits (NPC Y02)
Insurance Providers (NTE Y20)
Legal, Consumer and Public Safety Services (AIRS LE-450)
Legal/Public Safety (CAN LP-450)
Related Concepts Insurance
Facet Service
Comments
Bibliographic References "Cyber Liability Insurance for Nonprofit Organizations", https://nonprofit.insureon.com/small-business-insurance/cyber-liability/282

"Data Breach & Cyber Liability Insurance", The Hartford website, https://www.thehartford.com/data-breach-insurance

"Protect Yourself From Cyber Threats and Liability Claims", Progressive Commercial website, https://www.progressivecommercial.com/business-insurance/cyber-insurance/?utm_source=google&utm_medium=cpc&utm_campaign=pgrclpaidsearch&utm_term=&utm_content=cyberins&gclid=EAIaIQobChMI4Kv66JSq3wIVi8VkCh1u5AE9EAAYASAAEgKRY_D_BwE

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