Cyber Liability Insurance

In today's digital age, community associations are increasingly vulnerable to cyber threats that can lead to financial losses, data breaches, and operational disruptions. Cyber Liability insurance provides coverage for financial losses and expenses resulting from data breaches, including breaches of Personal Identifiable Information (PII). We work with highly rated insurers to provide your community with comprehensive cyber liability coverage.

Coverage for financial losses and expenses may include:

First-party expenses

Coverage may include:

• Notification costs
• Crisis management
  • Includes cyber extortion payments and public relations cost 
• Credit monitoring
• Data restoration
• Forensic investigations
• Business interruption

Third-party liability expenses

Coverage may extend to:

• Attorney fees
• Regulatory fines and penalties
• Settlements and judgments

What is included?

Cyber liability insurance goes beyond basic liability coverage to help protect your community from a wide range of digital threats. This protection includes:

1. Liability Coverage
   • Enterprise security event liability
   • Privacy regulation liability
   • Website media liability


2. Extortion and fraud protection
   • Computer system extortion
   • Ransomware loss coverage
   • Social engineering fraud
   • E-theft
   • Telecommunications Theft


3. Crisis management and response
   • Crisis Management
   • Public relations support
   • Fraud Response


4. Data recovery and business continuity
   • System disruption/business interruption
   • Data recovery expense


5. Legal and forensic services
   • Forensic investigations and legal consultation
   • Breach preparedness services


6. Regulatory and compliance
   • PCI fines coverage

Real-world claim examples

• A board member’s laptop, containing sensitive association data, was stolen. The claim covered the costs of notifying the affected individuals, providing credit monitoring services, and legal fees.
   
• The community association’s computer system was infected with ransomware, encrypting all their files and demanding a ransom for decryption.  The claim included ransom payment, data recovery expenses, business interruption losses, and costs for improving cybersecurity measures.

Invest in your community's protection

Our team at FS Insurance Brokers is committed to providing you with expert advice and solutions for complex insurance situations. By choosing us, you are partnering with industry experts dedicated to your community's long-term security and financial stability.

Our commitment to management education, mitigation, and controls allows us to source superior programs with coverage at competitive, needs-based rates.

Contact our team of experts today to learn how we can help protect your assets and secure your community's future.