June 17, 2014

Who, What, and Why of Cyber Liability

WHO Needs Cyber Liability Coverage? Any communications company engaged in providing computer services, Internet services or those companies using the Internet in its everyday course of business. WHAT Activities Create Cyber Risk? Use of Email • Support of Webmail • Internet Service Providers • Dependence on Network Services • Electronic Storage of Customer Information • Storage of Third-Party Trade Secrets and Data • On-Line Advertising and Marketing • Web Site Design, Development & Ecommerce • Web Site Activities (Content, Links) • E-Commerce • E-Brochures/E-Catalogs • E-Bill Payment • Internet/Digital Media • Electronic Bulletin Boards or Social Interaction WHY Does My Customer Need Cyber Coverage? A General Liability policy will cover a physical injury to TANGIBLE property. Information is not TANGIBLE property. A General Liability policy also EXCLUDES electronic data. Claim Examples: 1. Trademark Liability ISPs are liable for their own activities that constitute trademark infringement. As a result, if an ISP were to advertise their services under a trademark that […]