Berkley Cyber Risk ProtectSM Product Description

Berkley Cyber Risk Protect (SM) provides expansive first and third-party cyber coverage that provides options for separate limits and retentions, subject to an annual policy aggregate, allowing flexibility to choose only coverages meeting policyholders’ needs.

  • A+ rated insurance carrier
  • Admitted where available
  • Primary appetite for companies with revenues up to $5B
  • Capacity up to $25M
  • Worldwide coverage
  • Non-cancellable except for non-payment of premium
  • Severability of application
  • Single highest retention for related claims and losses from a single data security event
  • Automatic subsidiary coverage
  • Data Security and Privacy
  • Regulatory
  • Payment Card Industry
  • Cyber Media
  • Technology E&O (available by endorsement)
  • Claims Made coverage
  • Comprehensive definitions of Claim, Insured, Data Security Event
  • Data Security and Privacy Event includes Personally Identifiable and Corporate information
  • Punitive Damages included (where allowed by law)
  • Duty to Defend
  • Favorable consent to settlement, with insured ability to settle within retention
  • Broad definition of Damages associated with a PCI Claim
  • Data Breach Response Coverage includes:
    • Crisis Management and Reward Expenses
    • Forensic and Breach Counsel Expenses
    • Notification and Monitoring Expenses
    • Data Restoration Expenses
  • Business Interruption/Extra Expense
    • Contingent Business Interruption
    • System Failure Business Interruption
  • Reputation Risk
  • Ransomware Extortion
  • Cyber Crime
  • Social Engineering
  • Discovery trigger for Data Breach Response, Cyber Crime and Social Engineering
  • A 24-hour data breach hotline is available
    • The Breach Counsel Hotline is 1-844-844-0104
    • No retention for costs of preferred Breach Counsel
  • Optional coverage for the Number of Notified Individuals outside the limit of liability
  • Voluntary Notification for written and electronic data
  • No prior consent is required for use of Preferred Data Breach Response Providers
  • Forensic accounting costs included for Business Interruption
  • Cyber Risk Solutions Services
    • Reimbursement for costs to replace, remediate, and improve computer systems and establish and improve data security practices and policies