Information Technology Reference
In-Depth Information
table 5.6
e-insuranc
e Coerage options
Coverage
Description
Loss/corruption of
data
Covers damage to or destruction of information assets
resulting from viruses, malware, and Trojan horses
Business interruption
Covers loss of business income resulting from an attack
on a company's information technology that limits the
ability to conduct business
Dependent business
interruption
Extends business income loss coverage to vendors of
goods and services that are critical to the performance
of the insured's E-business activities
Liability
Covers defense costs, settlements, judgments, and
sometimes punitive damages incurred by a company as
a result of: Breach of privacy due to theft of data (e.g.,
credit cards, financial, or health-related data);
transmission of a computer virus or other liabilities
resulting from a computer attack that causes financial
loss to third parties (i.e., downstream liability); failure of
security that causes network systems to be unavailable
to third parties (i.e., loss of use); rendering of Internet
professional services; allegations of copyright or
trademark infringement, libel, slander, defamation or
other “media” activities in the company's Web site
Cyber-extortion
Covers the settlement of an extortion threat against a
company's network, as well as the cost of hiring a
security firm to track down and negotiate with
blackmailers
Public relations
Covers those public relations costs associated with a
cyber-attack and restoring of public confidence
Criminal rewards
Covers the cost of posting a criminal reward fund for
information leading to the arrest and conviction of the
cyber-criminal who attacked the company's computer
systems
Cyber-terrorism
Covers those terrorist acts covered by the Terrorism Risk
Insurance Act of 2002 and, in some cases, may be
further extended to terrorist acts beyond those
contemplated in the act
Continued
