Do general liability insurances provide protection against cyber-crime losses and damage claim liabilities?
Some do and some do not. It is important that coverage terms, coverage limits and coverage exclusions are clear and concise. It is advisable that each existing policy be carefully reviewed with your agent and any discrepancies be addressed in writing and attached to the policy as an addendum or clarification amendment. If coverage is provided, and in many cases it is NOT, carefully consider the policy dollar amount limits. Even a small one-man office can be exposed to liabilities of from $1 million to $50 million. An ACAP System can provide the capability to significantly mitigate this large potential risk exposure such that a cyber-security insurance policy can actually offer relevant and beneficial protection.
