SECTION I – INSURING
AGREEMENTS
This policy contains six
insuring agreements. All are subject to the same single aggregate limit
although some are also subject to insuring agreement specific sublimits. All are subject to the same policy level
deductible.
The coverage provided is
for loss that is the result of one or more of the following:
·
Cyber incident
·
Extortion threat
·
Security breach
·
Claim
Each of the terms above
can be found in the Definitions Section and should be reviewed.
Coverage applies only if
the loss is discovered either during the policy period or another period of
time that is provided within the Condition 15. Extended Period to Discover
Loss.
When any of the bulleted
items above arise from same circumstances and become a loss under any of the
insuring agreements it will be considered to have been discovered during the
earliest policy period in which any of those related bulleted items were
discovered.
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Example: On February 1 Marry Me has a
denial of service incident. As forensics investigate the incident, it
discovers that a security breach that exposes Marry Me’s customers’
confidential information has occurred that is directly related to the denial
of service incident. In June, Marry Me receives an extortion threat that the
confidential information will not be released unless appropriate payment is
provided. All three of these incidents are considered to have been discovered
as of February 1.
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1. Security Breach Expense
Loss that is the direct result of a security
breach which is discovered during the policy period is covered.
The terms security breach and discovered used in
the sentence above are defined in the Section
VII Definitions. The term loss is defined within this insuring agreement as
security breach expenses. The term security breach expenses is then also
defined within the insuring agreement.
Security breach expenses are the following six
separate expenses:
·
Forensics
These are the expenses
made in order to determine if a security breach occurred or is occurring in the
present time. If a breach is detected the following costs are also covered:
