AGIX Discussion Cyber-Security

Cyber Insurance Vs General Business Liability Insurance

This content was generated with the assistance of AI. The information has not been validated. AGIX is not an insurance company. Do not use this information to make your insurance decisions. 

Here is a comparison table highlighting the coverage categories of General Business Liability Insurance versus Cyber Insurance, including categories covered by general business liability insurance but not typically by cyber insurance.

This information exists to prompt thought in what you might expect or require as part of your insurance coverage.

Coverage Category General Business Liability Insurance Cyber Insurance
Data Breach Costs Possibly not covered Possibly covered (notification expenses, credit monitoring, legal fees)
Network Security Liability Possibly not covered Possibly covered (claims arising from security failures)
Privacy Liability Possibly limited coverage Possibly covered (violations of privacy laws and regulations)
Business Interruption Possibly limited to physical disruptions Possibly covered (income loss and extra expenses due to cyber incidents)
Cyber Extortion/Ransomware Possibly not covered Possibly covered (ransom payments and associated costs)
Incident Response Possibly not covered Possibly covered (access to incident response teams)
Regulatory Defense & Penalties Possibly not covered Possibly covered (legal defence costs and regulatory fines)
Multimedia Liability Possibly limited coverage Possibly covered (intellectual property infringement, defamation, libel)
Crisis Management Possibly not covered Possibly covered (public relations and communication strategies)
Third-Party Liability Possibly covered (physical injuries/property damage) Possibly covered (claims from third parties affected by cyber incidents)
Technology Errors & Omissions Possibly limited coverage Possibly covered (errors or omissions in tech services/products)
Data Loss and Restoration Possibly not covered Possibly covered (costs for data recovery and restoration)
Bodily Injury Possibly covered Possibly not covered
Property Damage Possibly covered Possibly not covered
Personal Injury (e.g., defamation, slander) Possibly covered Possibly limited coverage (focused on online content)
Product Liability Possibly covered Possibly not covered
Completed Operations Liability Possibly covered Possibly not covered
Medical Payments Possibly covered Possibly not covered

Sources:

This content was generated with the assistance of AI. The information has not been validated. AGIX is not an insurance company and does not have sufficient knowledge to describe or correct the information presented on this page. Do not use this information to make your insurance decisions. 

 

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