Suppose your organization experiences a major security failure, data breach, or cyber extortion incident that becomes public knowledge. Not only will you need to address your security and deal with liability that may arise from the incident, but you may also experience negative press and public relations that could further hurt your business. Talk about adding insult to injury!
Coalition's Reputational Harm Loss coverage protects you by reimbursing the net profit lost as a direct result of an adverse publication about the security incident. This coverage is now included automatically on all non-admitted quotes that include Crisis Management coverage, with up to $1 million of limit.
This coverage is also automatically included on all admitted quotes in the following states (34): AL, AR, AZ, CA, CO, CT, DC, DE, HI, IA, ID, IL, IN, MD, MI, MN, MS, NC, NE, NH, NJ, NM, NV, NY, OR, PA, RI, SC, SD, TN, TX, UT, WI, WV.
If you have any questions, don't hesitate to contact us.