Cyber Liability is a coverage that is becoming increasingly important, but very few people understand what the range is and how it can protect your charter school.   With that in mind, we have compiled a quick summary of the standard coverages included in this policy.

What Does It Cover?

A standard cyber liability insurance policy provides the following coverages:

  • Coverage for damages to third parties caused by a breach in your network’s security.
  • Coverage for loss resulting from administrative or operational mistakes can include the acts of an employee, business process outsourcing (BPO), or outsourced IT provider.
  • Breach of Privacy coverage includes damages resulting from alleged violations of HIPAA, state and federal privacy protection laws and regulations.
  • Coverage for expenses resulting from a breach of consumer protection laws such as the Fair Credit Reporting Act (FCRA).
  • Customer Notification Expenses coverage (usually included as a sub-limit) – reimburses for costs to notify the customer of the breach and provide 12 months of credit monitoring.
  • Coverage for acts of a rogue employee causing intentional damage to your school’s computer network.
  • Public Relations Expenses coverage is available to repair your school’s reputation due to a data breach.
  • Cyber Extortion reimbursement costs for a range of perils, including a credible threat to introduce malicious code, pharm, and phish customer systems, or to corrupt, damage, or destroy your school’s computer system.
  • Electronic Media peril is an infringement of a domain name, copyright, trade name, slogan, or service mark on an internet or intranet site.
  • Interruption expenses include additional costs associated with rented/leased equipment, use of third-party services, other staff expenses, or labor costs directly resulting from a covered Loss of Digital Assets claim.

If you would like to receive a cyber liability insurance quote for your charter school, please call our office, and we can help provide you with multiple insurance quotes to fit your charter school’s needs.