As personal and financial lives flourish online, the risk of cyber crime and identity theft has grown. Standard homeowners policies generally exclude digital threats, leaving gaps in protection.
Cybersecurity insurance helps safeguard against losses from online fraud, data breaches, and other digital risks. Prizm works with carriers who specialize in this coverage, providing policies that address both financial costs and the disruption these events can cause. From protecting personal data to covering liability from cyber incidents, this coverage ensures peace of mind in a connected world.
Cyber Extortion: When your laptop is hacked and you can’t access it unless you pay someone in the form of cash or digital currency. Or, when someone accesses your personal data and threatens to release it publicly unless you pay them.
Cyber Financial Fraud: Cash is stolen digitally out of your bank account. You find fraudulent charges on your debit card. Your tax refund is paid to someone pretending to be you.
Deceptive Transfer Fraud: When you receive a fraudulent invoice from someone pretending to be a person or entity you do business with, misleading you into transferring cash or investments to them.
Cyber Breach of Privacy: When your reputation is hurt because private personal information or false information is published online about you.
Cyber Bullying: When someone harasses your child online. Cyber insurance may help pay for psychiatric services, tutoring, and if needed, relocation services.
Cyber Disruption: When your home automation system is hacked and you have to temporarily find another place to live.
Identity Theft: When someone steals your identity and takes out a bunch of loans or credit cards, or applies for unemployment under your name.
Electronic Data Restoration: When a hacker accesses your computer and deletes or corrupts your data. Or when you accidentally download malware that deletes or corrupts your data. Cyber insurance may help pay to restore it.
Electronic Device Replacement: When someone is fixing your computer and installs the wrong program, making your computer unusable.
What's Not Covered?
Prior Knowledge: Losses resulting from circumstances that you knew about prior to having continuous cyber coverage provided by us.
Acts of Certain People: Losses resulting from a malicious or fraudulent act, including a cyber attack, by a family member, current or former guardian, current or former spouse/domestic partner, anyone who currently lives or previously lived with you, or anyone acting on behalf of these individuals. Also excludes losses resulting from a cyber bullying occurrence by an employer or coworker, or losses resulting from anyone acting on behalf of a civil authority.
Business Activities: Losses resulting from business activities, except for losses resulting from a cyber attack that interrupts your incidental business that you run in whole or in part from your home.
Confiscation: Losses resulting from a government or public authority taking or destroying your property.
Digital Currencies: Losses resulting from any activity involving digital currency that is not authorized by a sovereign government as part of its currency, such as Bitcoin and Ethereum, except where digital currency is paid to extortionists as ransom under Cyber Extortion coverage.
Widespread Events: Losses resulting from a widespread cybersecurity event like a cyberattack or a security failure. The event could affect you as well as people and businesses you’re not connected with. A widespread event can be caused by the actions of an individual or a group.
Insolvency: Losses resulting from a financial institution’s financial difficulties or restructuring.
Liability to Others: Losses resulting from property damage or personal injury that affects others, and for which you may be legally liable or responsible, except for costs covered under the Cyber Financial Fraud coverage part.
Pursuit or Holding of Public office: Losses resulting from running for or holding an elected public office.
Travel Restriction: Losses you experience while in a place designated as a “do not travel” area by the United States Department of State, Bureau of Consular Affairs, whether or not the loss is directly related to or in the location of such travel.
Property Damage: Losses resulting from physical injury to, or the destruction of, physical property, or your resulting inability to use that property.
Investment, Gambling, and Transactional Losses (excluded under the Cyber Financial Fraud and Deceptive Transfer Fraud Coverage Parts): Losses you experience when your investments decrease in value; someone misleads you about the value of a product, service or investment; someone doesn’t pay a loan you made to them; someone fails to perform as agreed by contract; the US Postal Service or a courier service loses money; financial securities, or physical property, a product or service you purchased fails or malfunctions; or gambling losses.
