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CyberFirst now has even more flexibility and choice

These are some of the changes your technology clients can look forward to with the rollout beginning in January 2017:

• Insuring acquisitions improvement. Newly acquired organizations (other than partnerships or joint ventures) with gross revenue less than or equal to 15% of the policyholder’s gross revenue automatically qualify as a named insured. Previous threshold was 10%.  
• Retentions won’t stack. If related first party incidents trigger multiple first party coverages, and more than one retention applies, the total retention won't exceed the largest applicable retention – we won't stack the retentions.
• Claim definition expansion. We'll add "a written demand to toll or waive a statute of limitations" to our claim definition.  
• Contingent business interruption expansion. This new optional coverage extends to the policy holder's business interruption loss and additional expenses directly attributable to a disruption to an IT provider's or outsource provider's computer system.
• Privacy policy protection enhancement. Failure to comply with any identity information provision in your privacy policy is a covered wrongful act in our CyberFirst Network and Information Security Liability coverage.  
• Additional security breach expense reimbursement. We will reimburse for credit and identity monitoring expenses for two years or longer, if required by a notification law, as well as for expenses for fees and costs or expenses associated with the purchase of an identity fraud insurance policy.

CyberFirst still follows a unique single policy approach; including coverage options for:

• Technology Errors & Omissions Liability
• Network and Information Security Liability
• Communications and Media Liability
• Expense Reimbursement
• Employed Legal Professional