Cyber Liability

Elatas knows that in today's digital world, cyber liabilities have never been more threatening. The harsh reality is that cyber-related claims can stem from a multitude of unforeseen events and can be settled for hundreds of thousands - even millions - of dollars with significant legal expenses incurred. Our agents assess individual business risks to find the right kind of coverage for:

Security & Privacy Insurance - Coverage for third party claims resulting from a network security or privacy breach. Includes coverage for both online and offline information, virus attacks, denial of service, and failure to prevent transmission of malicious code. Also extends coverage for defense costs and fines/penalties for violations of privacy regulations including but not limited to HIPAA, Red Flags Rule, and the new Hi-Tech Act.

Privacy Breach Responses Costs, Customer Notification Expenses and Customer Support and Credit Monitoring Expenses - Coverage includes all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred by the insured in response to a privacy breach. Also includes coverage for amounts incurred to retain a PR expert before the publication of an adverse media report of a security or privacy breach and for the costs to notify individuals of a privacy breach where there is no legal requirement to do so.

Multimedia Insurance - Coverage for third party claims resulting from the dissemination of online or offline media, including claims alleging copyright/trademark infringement, libel/slander, advertising, plagiarism, and personal injury

Network Asset Protection - Coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted due to a covered cause of loss. Also includes coverage for income loss and business interruption expenses directly resulting from a covered cause of loss. “Covered cause of loss” includes accidental damage or destruction, administrative or operational mistakes, and computer crime and attacks.

Cyber Extortion - Covers extortion expenses incurred, and extortion monies paid, as a direct result of a credible cyber extortion threat

Cyber Terrorism - Coverage for income loss and business interruption expenses directly resulting from a total or partial interruption, degradation in service or failure of the insured’s computer system due to an act of terrorism

PCI DSS Assessment - Provides coverage for the fines and penalties levied by the Payment Card Industry Data Security Standards council (VISA, Mastercard, AmEx, Discover, and JCB) against merchants who are not PCI DSS compliant

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