![Cyber and Technology E&O insurance Cyber and Technology E&O insurance](/content/dam/munichre/global/images/royalty-free/GettyImages-1166492679.jpg/_jcr_content/renditions/original.image_file.5000.1667.0,833,5000,2500.file/GettyImages-1166492679.jpg)
Cyber and Technology E&O insurance
Coverage for today’s evolving cyber threats.
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Leveraging the strength
of Munich Re Specialty
![Leveraging the strength of Munich Re Specialty Leveraging the strength of Munich Re Specialty](/content/dam/munichre/hsb/hsb-iic/image-asset-library/hsb-other/147456329.jpg/_jcr_content/renditions/cropped.16_to_9.jpg./cropped.16_to_9.jpg)
Cyber insurance capabilities target classes
Airlines
Casinos/gambling risks
Payment processors
Adult content
Cryptocurrency
Religious affiliations
Blockchain
Education
Political action committees
Cannabis-related risks
Healthcare
Social media/networking
Coverage details
Capacity
Up to $10m
First-party coverages
- Breach event
- Cyber crime
- Cyber extortion
- Reputational harm
- Digital asset damage
- Hardware replacement — business and dependent business interruption
Third-party coverages
- Network security and privacy liability
- Media liability
- Regulatory liability
- PCI DSS liability
- Technology E&O
![coverages coverages](/content/dam/munichre/global/images/royalty-free/GettyImages-1148113003.jpg/_jcr_content/renditions/original.image_file.2555.3407.1288,0,3843,3407.file/GettyImages-1148113003.jpg)
Claims scenarios
A company employee received an email that appeared to be from a legitimate source but was in fact a phishing attack. The employee clicked on a link and allowed a cybercriminal to extract the company’s data, including personal and credit card data pertaining to clients. How does Cyber coverage respond?
First-party coverage
- While coverage application is determined by individual claims analysis, first-party Cyber insurance coverage can:
- Pay to investigate the source and extent of the data breach
- Notify clients of the breach and what information was extracted
- Provide for the purchase of credit monitoring services
- Reimburse the insured for business interruption and lost revenue
- Provide for PR to protect the insured’s reputation
- Pay ransom to have data unencrypted in the case of ransomware/cyber extortion
- Pay ransom to a cyber-extortionist who is holding data hostage
Third-party coverage
If the same data breach occurs on a third party’s network or systems, third-party Cyber insurance can:
- In the event of a lawsuit, respond to an insured’s covered attorney’s fees, legal expenses, and settlements or assessed damages
- If the insured is a technology business, Technology E&O insurance defends against lawsuits pertaining to data breaches, professional negligence, inadequate or incomplete work, and critical timelines missed
![Claims scenarios Claims scenarios](/content/dam/munichre/global/images/royalty-free-mediaportal/GettyImages-2029004627.jpg/_jcr_content/renditions/original.image_file.2850.3800.1425,0,4275,3800.file/GettyImages-2029004627.jpg)
![Steve Pacheco Steve Pacheco](/content/dam/munichre/mram/images/mrsi/contact-images/Pacheco-Headshot.jpg/_jcr_content/renditions/original./Pacheco-Headshot.jpg)
Tools and downloads
![Perspectives Perspectives](/content/dam/munichre/global/images/royalty-free/GettyImages-1346778342.jpg/_jcr_content/renditions/original.image_file.2560.1280.0,120,3840,2040.file/GettyImages-1346778342.jpg)