Electronic theft of your family’s personal identifiable information is becoming a more frequent occurrence. Most Homeowners policies provide some minimal coverages for expenses such as credit report repair, monitoring, forensic work, and legal fees related to a cybercrime.
Some carriers are providing additional coverages and limits, to cover:
- Cyber extortion and ransomware: Protection against threats to release, destroy, or restrict access to personal data, or cause failure to electronic processing property.
- Cyber financial loss: Protection against loss of funds stolen from an account due to a cyberattack.
- Cyberbullying: Assistance dealing with online harassment that results in wrongful termination, wrongful discipline from school, or debilitating emotional impact.
- Cyber disruption: Support in dealing with a cyberattack that prohibits the client from accessing their home (how can a cyberattack prohibit home entry?), or interrupts their incidental business operations in their home.
- Cyber breach of privacy: Aid in dealing with theft, loss or unauthorized access to personal data from a cyberattack, which results in defamation of character, poses a risk to the safety of the client, or results in wrongful termination, wrongful discipline from school, or debilitating emotional impact.
$ 100,000 in coverage will cost approximately $350 annually
$ 250,000 in coverage will cost approximately $600 annually