The following risk management controls can help companies avoid cyber losses due to viruses, hackers, trojan horses, malware, denail of service, extortion, errors & ommissions in delivering tech services, intellectual property violations, etc.:
* firewalls
* encryption
* password protection
* network security reviews
* disaster recovery services
* forensic services in response to security breaches
* emergency loss containment
* employee handbook provisions on internet and email security
* hacker vulnerability assessments
* review of your content and use terms by intellectual property attorney
Sources:
With Computers Under Siege Cyber Insurance Rides To The Rescue
Do You Need Coverage For Cyber Risks?, The John Liner Letter, Vol. 43, No. 7, June 2006
Cyber Liability policy forms may or may not cover the following types of identity theft:
Pfishing Attacks- Pfishers send spoofed emails that highjack the names of trusted companies like banks, credit card companies, e-retailers, etc. in an attempt to trick recipients into visiting counterfeit websites and entering confidential data into web forms. Such confidential data can take the form of account numbers, credit card numbers, social security numbers, user names,  passwords, etc. Once this information has been received, the theft can begin.
Pfarming Attacks- Pfarmers send emails or design websites that plant crimeware into home computers and PC’s that directly extracts confidential information through the use of key logger monitoring software.
Some carriers may allude to coverage for pfishing and pfarming by use of terms unauthorized access or breach of security while the better forms will have affirmative coverage grants. A specific limit may be available for a business to restore their credit after an identity theft has occurred.
Source: With Computers Under Siege, Cyber Insurance To The Rescue
