Chubb’s Cyber ERM Version 2 builds on the strengths of Chubb’s Cyber ERM wording and protects against disasters such as loss of availability, data breaches, data corruption, ransomware and online media events covering both third-party liability and first-party losses from malicious acts or negligence.
It includes extensive pre-loss mitigation, post-event crisis management and risk transfer solutions to address the growing cyber and data privacy risks facing companies today.
Incident Response: Chubb policyholders have access to our network of Incident Response Management firms around the world via a hotline, the Chubb Cyber Alert mobile application, or the Chubb Cyber Alert website. We support clients throughout an incident using a network of forensic, remediation, cyber extortion, legal, notification, fraud remediation and public relations experts. This service is available 24 hours a day, 365 days a year.
Third-party liability coverage protects the insured for liability resulting from the loss of personal and corporate confidential information. Some highlights include coverage for:
Costs arising from extradition proceedings
Actions between directors of the company
North American exposures
Tax contributions where the company has become insolvent and there is personal liability of an insured
Losses incurred within 30 days of buy-outs by management of a subsidiary company
Damages, judgments, settlements bail bond costs, crisis costs, deprivation of asset costs, prosecution costs, public relations expenses and defence costs
Losses incurred for civil fines and penalties imposed pursuant to Section 78ff (c) or Section 1 78dd – 2(g) (2) of the Foreign Corrupt Practices Act or any similar legislation in any other jurisdiction.
Where there has been fraudulent conduct, non-disclosure, misrepresentation or intent to deceive, the policy will nevertheless be maintained for each innocent director.
The policy will pay legal representation expenses for an insured person who during the policy period is formally required to attend an official investigation into the affairs of the company or the insured person (whilst acting in their capacity as such)