The most recent denial of a claim by Zurich for the Sony hacker case is evidence of the need for diverse insurance. Automobile insurance is designed to cover automobile exposures, E&O for professional services and G/L for liability related exposures. However, there are significant gaps between each of these policies that companies should be aware of. In the case of the Zurich /Sony matter, the type of risk for cyber hacking and cyber hostage is addressed in a cyber privacy policy. Many companies don't address this risk separately from their other insurance coverages.
A properly designed cyber and privacy policy is an essential part of operations in todays connected work place. Contact one of our cyber specialists today for a free assessment.
