Cyber Insurance is a product used to protect businesses and individual users from Internet-based risks, and more generally, from risks related to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional Commerical General Liability policies or at least are not specifically defined.
Third Party Liability
Protection for damages to others and their assets caused by wrongful acts for: network and information security (protection of information/privacy issues); communication and media (unauthorized use of, or infringement of copyright, title, trademark, etc.); and regulatory defense expenses.
First Party Coverage (for your own assets)
Covers crisis event management expenses (reasonable expenses incurred in order to mitigate and actual or potential negative publicity resulting from a wrongful act); security breach remediation and notification expenses; computer program and electronic data restoration expenses; computer fraud; funds transfer fraud; e-commerce extortion; and business interruption and additional expenses.