Cyber coverage guide for professional lines
As the world becomes more and more digital, businesses are increasingly targeted by hackers using cyberattacks and social engineering scams to gain control of systems and hold valuable assets hostage. This poses a significant risk for professional service firms, as losing access to critical files and data can have disastrous consequences.
To address the evolving needs of our clients, 华体会 offers two options for first-party cyber coverage: via an endorsement on our professional liability policies or via a standalone offering, Cyber Advantage Pro.
Professional liability cyber first-party coverages endorsement
- Endorsement to a professional liability policy provides first-party coverage
- Offers a sublimit for first party with a maximum of $100,000
Cyber Advantage Pro
- Admitted, standalone policy provides first-party and third-party coverage with a single unified policy and dedicated limit
- Has the ability to offer higher, standalone limits on most insuring agreements
Scope of coverage
First-party coverage | Description | Cyber endorsement | Cyber Advantage Pro |
|---|---|---|---|
| Breach event expense | IT review, legal counsel, notification and identity service costs | Y | Y |
| Breach restoration | Costs for forensics, software replacement, removal of malicious code and reconfiguration of the system after a covered event | Y | Y |
| Cyber investigation | Claims expenses incurred as part of a civil investigation and associated costs for amounts imposed by local, state, federal or foreign government entities resulting from a covered event | Y | Y |
| Business interruption | Loss of income and extra expense coverage for outages related to malicious attacks on insured鈥檚 systems | Y | Y |
| Contingent business interruption | Loss of income and extra expense coverage for outages related to malicious attacks on third-party systems up to 180 days | N | Y |
| Cyber extortion | Costs for consulting fees and extortion demands arising from a covered event | Y | Y |
| Cyber theft | Transfer of money or property via fraudulent instructions entered directly into the insured鈥檚 system 鈥� includes invoice manipulation | Y (Does not include invoice manipulation coverage) | Y (Computer fraud includes invoice manipulation coverage) |
| Public relations (PR) | Costs for a PR firm to respond to actual or potential negative publicity arising from a covered event | Y (via breach event) | Y |
| Cyber breach reward | Costs for a reward leading to the conviction of the threat actor | N | Y |
| Hardware replacement | Costs for hardware rendered useless after a malicious attack | N | Y |
| Payment card expense | Assessments & chargebacks resulting from a breach of personal information stemming from noncompliance with PCIDSS | N | Y |
| Reputational harm | Coverage for a reduction in business income for 30 days from the date the system is restored, or the last notice sent in the event of a breach of personally identifiable information (PII) | N | Y |
| Funds transfer fraud | Transfer of money from/by a financial institution on the basis of an instruction coming from the insured when the insured had no knowledge of the request | N | Y |
| System resource fraud | Increased utility costs related to the misappropriation of telephone or computing resources | N | Y |
| Social engineering | Transfer of money by an employee based upon a fraudulent misrepresentation of facts by a third party | N | Y |
Third-party liability coverage | Description | Professional liability base form | Cyber Advantage Pro |
|---|---|---|---|
| Privacy and security liability | Privacy and security damages and claims expenses | Y - resulting from a professional services wrongful act | Y - resulting from a privacy and security wrongful act |
| Media and content liability | Damages and claims expenses resulting from an actual or alleged infringement of copyright, plagiarism, invasion of privacy, interference of publicity, eavesdropping, defamation, libel or false arrest | N | Y |
Use TAP Sales to quote and issue cyber policies
With TAP Sales, you can quickly and easily quote and issue a Hanover Cyber Advantage Pro policy for eligible small businesses via the small firm coverage level offering. Or, get a non-bindable premium indication for businesses that would benefit from more customized coverage or higher limits via the standard firm coverage level offering.
华体会 is the marketing name for the property-casualty and general insurance operations of 华体会 Insurance Group, Inc. All products are underwritten by 华体会 Insurance Company, Citizens Insurance Company of America or one of their insurance company subsidiaries or affiliates. Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only. For more information about 华体会 visit our website at