Common Cyber Risks

As your company becomes increasingly dependent upon the Internet you face a new class of threats to your balance sheet and income statement. These loss potentials are unlikely to be covered by traditional insurance. For detailed information on potential losses, please see our types of losses page.

The most common threats are as follows:

1. Activities by a hacker to a third party whom alleges damages, including:
   1. Accesses your computer to send a virus.
   2. Accesses your computer system to release sensitive customer data.
   3. Launches an attack that shuts down your computer system.
   4. Accesses your network and launches an attack.
   5. Accesses your network and transfers money or credit card information you are holding.
2. Activities by a hacker to first party whom alleges damages, including:
   1. Deletes data or alters your data and you incur costs to reproduce the data and lost income.
   2. Sends a virus to your system and you suffer damages to data and lost income.
   3. Gains access to your network and causes an electronic transfer of your funds to his/her account.
   4. Extorts money by threatening to divulge sensitive data he/she collected over your network.
   5. Changes all of your passwords and locks you out of your network.
   6. Launches a Denial of Service (DOS) attack which makes it impossible to sell products over your website.
3. If you have a website, a third party may allege that you have published their copyrighted material.
4. If you are a financial institution or deal with patient records, you could have significant defense costs associated with an administrative action under GLB or HIPAA regulations.
5. If you sell internet access services to a third party and they allege they were denied access.
6. If you sell software to a third party that alleges damages as a result of software malfunction.