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« Truck Drivers and Sleep Apnea Testing - November P&C Profile | Main | Cyber Attack Loss Scenario #1: »
Friday
Dec022016

Cyber Attack Loss Scenario #2:

An equipment dealer’s system contained a virus that affected external customer computers.
 
Coverage response (First Party):
-System Restoration: $200
 
Coverage response (Third Party):
-Defense Costs: $18,000
-Settlement Costs: $30,000
 
-Total Loss: $48,200
 
A Cyber Liability policy, offering both first and third party coverages, is an important piece of every businesses risk management program. In the example above, if the organization did not have a Cyber Liability policy, many of these expenses would not be paid.
 

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