A standard cyber liability policy is built around five core coverages, with optional add-ons depending on your industry and risk profile.
Five core coverages:
- Data breach response — costs to notify affected individuals, hire a forensic investigator, and provide credit monitoring.
- Ransomware and extortion — extortion payments where legally permissible, plus the engineering hours and tooling needed to recover encrypted systems.
- Business interruption — replacement of lost revenue while your systems are unavailable due to a covered cyber event.
- Third-party liability — defense costs and settlements when customers sue over a data exposure.
- Regulatory fines and penalties — where insurable under applicable law.
Common add-ons:
- Social engineering / wire transfer fraud (phishing-driven payments to attackers).
- Funds transfer fraud beyond the standard limit.
- Reputation harm and PR response.
- Hardware replacement (bricked equipment from a cyber event).
Policy details vary by carrier and tier. RMO BizCyber plans are described in detail in the policy form provided at quote.