Ever-Changing
Risk Demands Focused Expertise
Media/Professional Insurance’s CyberLiability
PlusTM policy addresses the rapidly
evolving exposures in the world of
cyber-risk. The policy is designed
for any company providing Internet-related
services or using the Internet as
part of its business activities.
Coverage for dissemination of content
and for errors and omissions in services
are combined into one policy form.
The program is backed by the solid
claims-paying ability of the AXIS
U.S. Insurance companies, rated A
(Excellent) XV by A.M. Best.
Coverage Highlights
- Definition of “Cyberspace
Activities” carefully crafted
for each account
- Coverage for both distribution
of content and errors and omissions
in services (both on- and off-line)
- Protects innocent insureds from
intentional unauthorized access
or other wrongful conduct of “rogue”
employees
- Coverage for punitive damages
(where allowed by law)
- Subsidiary coverage (including
newly created or acquired entities)
- Allegation of intentional wrongful
conduct covered until final adjudication
- Worldwide coverage
- Up to $10,000,000 policy limit
capacity, primary or excess
- $2,500 minimum premium for a limit
of $1,000,000
- $2,500 minimum deductible
Covered claims include:
- Libel/Slander
- Invasion of privacy
- Infliction of emotional distress
- Copyright infringement
- Trademark infringement
- Unauthorized access by third parties
- Accidental introduction of viruses
or malicious code in data or systems
- Errors and omissions in services
Sample of Classes Insured
- Application Service Providers
- Bulletin Board, Chat Room, Forum
and News Group Hosts
- Content Providers
- E-Brochures/E-Catalogs
- E-Business Consultants
- Electronic Commerce Risks
- Interactive Electronic Environments
- Internet/Digital Media
- Internet Service Providers
- Network Developers, Managers and
Consultants
- On-Line Marketing
- On-Line Software Developers
- Search Engine Portals
- Web Hosts and Administrators
- Web Site Developers, Designers
and Consultants
- Web Site Owners
Availability
Available in all 50 states and D.C.
on a surplus lines basis, except NJ
(admitted). Claims Management
M/PI’s industry-leading cyber
claims expertise includes:
- Dedicated in-house claims attorneys
with cyber law expertise
- A network of top technology and
intellectual property law firms
- Risk management and loss control
programs available
Claims Examples
The claims examples below illustrate
the types of exposures companies face
in the cyber world.
Privacy
An on-line retailer attempted to sell
its customers' personal information
to pay creditors as part of the retailer's
bankruptcy. The retailer's privacy
policy had stated that personally
identifiable information would not
be sold. A group of consumers brought
a class action lawsuit on privacy
grounds.
Errors, Omissions, Negligent Acts
A cosmetics company sued a search
engine alleging that the search engine
engaged in trademark infringement
and unfair competition by selling
banner advertising to another, competing
cosmetics company. The search engine
sold the competitor a banner ad on
the results page that came up when
a user entered the first company's
name as a search term.
Unauthorized Access
A hacker infiltrated an on-line shopping
website and stole 300,000 customer
credit card numbers. The website faced
claims from the customers for unauthorized
charges made on the credit cards,
as well as claims from the banks that
issued the cards for the costs incurred
in canceling and reissuing them.
Trademark Infringement
A business that used a competitor's
trademarked name as a metatag — a
piece of code used to increase the
number of “hits” in response to internet
searches — was sued by the competitor
for trademark infringement and unfair
competition.
Copyright Infringement
A company obtained articles from various
print sources and sold the articles
to on-line archive websites. Free-lance
authors sued the archive websites,
alleging that they had given permission
for the use of their articles in print
format only, not for use in an electronic
format. The archive websites in turn
sued the companies that provided the
articles, seeking indemnity if found
liable to the authors.
- Some of the above are claims
Media/Professional Insurance has
handled. In others, MPI was not
directly involved. Coverage for
these claims is not to be inferred
from this list but must always be
determined in reference to a particular
insurance policy, which is the controlling
document, as well as the facts and
circumstances of each claim and
applicable law.
Media/Professional Insurance
©2005 Media/Professional Insurance
A division of Financial & Professional
Risk Solutions, Inc.
Two Pershing Square
Suite 800
2300 Main Street
Kansas City, MO 64108-2404
(816) 471-6118, (866) 282-0565
(816) 471-6119 fax
www.mediaprof.com
marketing@mediaprof.com
CyberLiability PlusTM Media/Professional
Insurance Coverage Highlights Sheet
Please send submissions to submissions@mediaprof.com
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