Personal Lines Cyber

The incident response team will work closely with your policyholders to better understand their needs and partner with them to resolve their claim efficiently and effectively.

Identity theft

A policyholder provides their personal credit card details on an unsecure online payment form. A cyber criminal hacks into the form and steals the credit card number. The criminal then uses the credit card information to commit fraud. The policyholder discovers unauthorized purchases on their statement.
In this type of scenario, the insured would be reimbursed for the reasonable and necessary identity theft expenses that the insured incurs as a result of an identity theft event that the insured first discovers during the policy period and after it has been reported in writing to the police.
This includes administrative and out-of-pocket expenses incurred while trying to restore or protect the insured’s identity to the position before the identity theft event.

Home system compromise

A hacker breaks into the policyholder’s home router and infiltrates all the devices connected to the
network, including computers, mobile phones, and tablets. Through the router, the hacker introduces malware and viruses and accesses all stored information. There was no ransom demand so the insured is unaware of the problem until their bank notifies them about an unusual transfer request.

In this scenario, the incident response team commences a forensic investigation, searches the dark web and verifies that data from the insured’s bank accounts is being used. All devices are cleaned, banking application passwords are changed, and all the data is deleted from the web. The
insured is advised to strengthen the security of the router and all connected devices.

The policyholder would be reimbursed for the reasonable and necessary home system compromise costs as well the costs to regain access, replace or restore their data.

Cyber extortion

A policyholder unintentionally clicks a link on a website which infects the computer with ransomware. The data is now encrypted and there is a demand for ransom money in exchange for releasing the data back to the insured.

In this scenario the policyholder would be reimbursed for the reasonable and necessary cyber extortion loss incurred as it was reported in writing to the police and occured during the policy period.

Cyber bullying

The phone of a policyholder’s adolescent is hacked and a conversation is posted on a public website.
The adolescent is threatened and abused by third parties and experiences psychological suffering.
The adolescent refuses to go back to school and the policyholder reports the situation to the police.

In this scenario, the incident response team undertakes forensic analysis. All published information is removed from the website, and the mobile device is cleaned. In this scenario the policyholder would be reimbursed for psychological counseling expenses for the adolescent as well as any other reasonable and necessary cyber bullying expenses incurred.

Online fraud

A policyholder receives an email that appears to be from a work colleague. The email looks legitimate and includes a request from the sender to open an attachment as a matter of urgency. The insured opens the attachment and has now granted a third-party software company access to their emails and contacts. Hackers use spoofing and phishing scams like this to retrieve the insured’s sensitive personal information.

In this scenario, the policyholder would be reimbursed for any online fraud loss and cover reasonable and necessary online fraud expenses as a direct result from of an electronic funds transfer.