Cyber Insurance

Cyber Liability provides coverage for a wide range of cyber and privacy exposures.
Three insuring agreements form the base policy:
  • Data Breach Liability is the mainstay of privacy and cyber insurance, providing coverage for:
  • The failure to prevent unauthorized access to both electronic and non-electronic confidential information (a data breach). The information may be in the care and custody of the bank or certain bank service providers.
  • The failure to properly notify impacted parties of a data breach as required by law.
  • Demands for restitution for lost business opportunities as a result of exposed confidential data by a victim of a breach incident.
  • Cyber Liability provides coverage for certain cyber exposures not covered elsewhere in the policy, including network security breaches such as distributed denial of service (DDoS) attacks and virus transmissions, as well as other causes of action.
  • Cyber Publishing and Social Networking Liability addresses gaps in defamation and similar coverage under a bank's General Liability policy by providing coverage for defamation and similar allegations arising from communications displayed or distributed through the bank’s websites and social networking accounts, whether posted by the bank or someone else. Coverage also addresses accusations of copyright infringement, misappropriation of ideas, slander and advertising injury arising from the bank's website and social networking accounts.
Sample Policy
Coverage Summary

Cyber Care Loss Control Resources

Cyber/Internet Banking Liability Applications

Blue States approved for Cyber Liability
Cyber Liability Applications
All other states approved for Internet Banking Liability
IBL Applications  
NY specific IBL Applications  

Notwithstanding any language to the contrary, nothing contained herein constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. All coverage descriptions and claims examples are provided for informational and educational purposes only and are not a representation as to coverage for any particular claim and are not represented to be error free. Coverage for any claim is determined upon the specific facts of the claim, the terms and conditions of the policy and applicable law. For details on the coverage provided by your specific contract of insurance, please refer to your policy. Coverage is subject to underwriting guidelines and may not be available in all states. Limits may be capped for underwriting reasons. Any links to any sites which are not originated by ABA Insurance Services Inc. (ABAIS) are provided only as a courtesy and are not intended to nor do they constitute an endorsement by ABAIS of the linked materials.