Cyber Liability is for cyber threats or breaches involving computer systems and data. Data includes sensitive information, such as credit card numbers, Social Security numbers, account numbers, health records and driver’s license numbers and other types of information that is not held in public domains or known to the public.
Coverage is self-funded under the Retained Risk Fund and administrated by State Risk as provided under the Retained Risk Document (RRD). Cyber Liability provides coverage for private data and communications in many different formats – paper, digital or other.
Common First-party Costs
- Forensic investigation of the breach
- Legal advice
- Notification costs of communicating the breach
- 1 year credit monitoring to affected third parties
- Public relations expenses
- Business interruption costs
Common Third-party Costs
- Legal Defense
- Settlements, damages, and judgments
- Liability to banks (re-issuing credit cards)
- Cost of responding to regulatory inquiries
- Regulatory fines and penalties
Exclusions to Coverage
Effective July 1, 2022, Cyber Ransom Coverage excluded under the Retained Risk Program.
Deductible
$10,000.00
How to Report a Cyber Threat or Breach
- A Breach must be reported within 24 hours of initial discovery.
- An Incident must be reported within 5 days of initial discovery.
- All Breaches and Incidents must be reported by your Agency’s Security Coordinator through WebEOC. Here is a link to instructions for logging in to WebEOC. If you do not have WebEOC login credentials, contact Risk Management at 208-332-1869.