Frequently asked questions

Policy features and details

No, there are no sublimits of coverage in the CyberLock Defense policy. Most cyber liability insurance policies have small sublimits of coverage for one or more high risk exposures, such as regulatory violations or fraudulent funds transfers, but CyberLock Defense gives full limits of coverage for all covered perils.

The minimum deductible for CyberLock Defense is $1,000 for all coverage elements.

Annual premiums start at a few hundred dollars for very small businesses and a few thousand dollars for average-sized businesses.

The maximum limit available from our primary insurer is $10 million.

Incidence Response Expense coverage protects you from the expenses associated with engaging incident response specialists following a cyber attack. These specialists include defense counsel, crisis management, post-incident security risk assessment, initial response guidance, IT forensic investigation, notification services, public relations campaign, malware removal and identify theft remediation services.

Network Security and Privacy Liability provides coverage for failure to prevent transmission of personal or confidential information, viruses, malware and other computer attacks.

Multimedia Liability covers you for lawsuits stemming from claims of copyright infringement, trademark infringement and defamation arising out of your company’s electronic publishing.

Cyber Theft and Social Engineering Loss covers businesses for incidents of social engineering or fraudulent use of your business computer system that result in fraudulent funds transfers from the bank or securities accounts for which your business is an authorized user.

Business Interruption Expense protects businesses when a computer system disruption, due to a cyber attack, prevents you from conducting your day-to-day operations and results in the loss of income and extra expenses incurred.

Cyber Extortion and Ransomware Expense coverage protects your business in the event you incur expenses to mitigate or terminate threats of cyber extortion and ransomware because of a cyber attack.

Data Restoration Expense coverage protects you from having to pay for the expenses associated with recovering data, software or firmware that is corrupted or damaged due to a cyber peril.

Social engineering is the act of confiscating confidential information through manipulation of a person or business who grants access to their computer system. Types of social engineering include phishing, spear phishing, vishing, pretexting and baiting.

Purchasing

Complete this information and explain the type of business you have in the comments section. Once you submit your information, you can expect to have your quote within one business day.

However, if you have had a cyber claim within the last 3 years, you will be required to fill out additional information within the application and the return time for a quote may increase.

If you choose to bind the CyberLock Defense coverage quotation, we require only one piece of additional information—a signed affirmation stating no cyber claims have occurred and that you are unaware of any potential claims.

Yes, the CyberLock Defense incident response and claims team has dedicated expertise with business owners and significant experience handling cyber risk claims.

With a CyberLock Defense policy, you can also use your own expert vendors or choose from CyberLock Defense’s panel of cyber risk experts.

Claims

If you believe your business has suffered a breach or claim covered by your CyberLock Defense policy, contact our incident resolution center immediately through the law offices of O’Hagan Meyer:

Contact: Kevin O’Hagan
Phone: 1-855-247-4710
Email: kohagan@ohaganmeyer.com

With your purchase of a CyberLock Defense policy, you have access to a breach coach who will help you develop a response plan should you ever experience a loss.

If a breach occurs, the breach coach will be your first point of contact for coordinating with subject matter experts to navigate the complex process of responding to a data breach. Each data breach is unique, and a breach coach will advise and assist you to meet your business’ needs. A breach coach can help you:

      • Conduct technical forensics to determine the scope and cause
      • Understand the regulatory, legal, ethical and malpractice obligations associated with the breach
      • Identify which authorities, regulatory bodies, individuals and businesses you must notify
      • Guide you through the notification process
      • Select and implement the best loss reduction solutions for the breach, including credit monitoring, legal filings, insurance or fraud prevention
      • Manage ongoing communications with victims of the breach
      • Coordinate with a public relations firm to protect your business’ brand

Yes, CyberLock Defense policyholders have access to top experts to help value losses, including technical forensics and forensic accountants.