Cyber Risk

Nuts & Bolts:
ISO introduced a new line of insurance to cover cyber risk. The new program includes policy contract forms, underwriting rules, loss costs (projections of future claims) and an advisory application supplemented by an advisory underwriting guide. The menu-based policy comprises five separate agreements: Web site publishing; network security; replacement or restoration of electronic data; cyber extortion; and business income and extra expense.

Dollars:
Base deductible for the other coverages is $5,000 with other options available.

States Available:
Available in 18 states, including Arkansas, and U. S. Virgin Islands.

Contact:
Dom Yezzi, (201) 469-2888.