No more contracts, insurance brokers, complicated jargon or long application processes. Keep your business moving fast knowing you have the financial safety net to recover after a breach.
Our industry-leading coverage is designed to address evolving regulatory, legal and cybersecurity standards. Our Cyber Incident Response Fund coverage is always primary (regardless of other collectible insurance), all insuring clauses include prior acts coverage (such as for an unknown previous breach) and transmosisONE will never force a settlement.
First-party expenses can include the costs associated with notifying affected customers and employees of a data breach. Public relations and reputation management/recovery costs are also first-party expenses.
Business interruption expenses, cyber extortion reimbursement, and legal and forensic expenses to determine the extent of a data breach and its perpetrators are also grouped in first-party expenses.
Third-party expenses include the legal aspects of a data breach, particularly in the legal fees and costs of settlements, civil awards, or judgements resulting from a lawsuit.
Liability costs centered on network security, privacy liability or electronic media – such as trade libel, plagiarism or copyright / trademark infringement – are also grouped under third-party expenses.