Network Security Privacy Liability 

⇒  Network Security Liability 

The Insurer agrees to pay on the client’s behalf all sums that the client becomes legally obliged to pay (including the establishment of any consumer redress fund and associated expenses) as a result of any claim arising directly out of a cyber event first discovered by the client during the period of the policy that results in:

• The transmission of malware to a third party's computer system;
• Your computer systems being used to carry out a denial of service attack;
• Your failure to prevent unauthorized access to information stored or applications hosted on your computer systems or a third party's computer systems; 
• Identity theft, experienced by your employees or any third party.

The Insurer also covers costs and expenses.

⇒  Privacy Liability 

We agree to pay on your behalf all sums that you become legally obliged to pay (including the establishment of any consumer redress fund and associated expenses) as a result of any claim arising directly out of a cyber event first discovered by you during the period of the policy that results in:

• An actual or suspected disclosure of or unauthorized access to any Personally Identifiable Information (PII), including payment card information or Protected Health Information (PHI);
• Your failure to adequately warn affected individuals of a privacy breach, including the failure to provide a data breach notification in a timely manner;
• A breach of any rights of confidentiality as a direct result of your failure to maintain the confidentiality of any data pertaining to an employee;
• A breach of any rights of confidentiality, including a breach of any provisions of a non-disclosure agreement or breach of a contractual warranty relating to the confidentiality of commercial information, PII, or PHI;
• A breach of any part of your privacy policy; 
• Actual or suspected disclosure of or unauthorized access to your data or data for which you are responsible.

The Insurer also covers costs and expenses.

⇒  Management Liability 

The Insurer agrees to pay on behalf of any senior executive officer all sums they become legally obliged to pay as a result of any claim made against them arising directly out of a cyber event first
discovered by the client during the period of the policy.

The Insurer will also pay costs and expenses on behalf of the client’s senior executive officers.

However, the Insurer will not make any payment under this Section for which the senior executive officer is entitled to indemnity under any other insurance, except for any additional sum which is
payable over and above the other insurance.

⇒  Regulatory Investigation Costs 

The Insurer agrees to pay on the client’s behalf any fines and penalties resulting from a regulatory investigation arising as a direct result of a cyber event first discovered by the client during the period of the policy.
 
The Insurer also covers costs and expenses.

⇒  PCI Fines, Penalties and Assessments 

The Insurer agrees to pay any fines, penalties and card brand assessments including fraud recoveries, operational reimbursements, non-cooperation costs and case management fees
which the client becomes legally obliged to pay to client’s acquiring bank or payment processor as a direct result of a payment card breach first discovered by the client during the period of the policy.

The Insurer also covers costs and expenses.