We believe that one size does not fit all. Since the terms and conditions of each Cyber Risk insurance product vary greatly, we examine and modify each offering to present a recommended solution that is tailored to our clients' unique needs.

Many professional service firms consider expenses related to a privacy or security data breach, such as statutory notification costs, to be of paramount concern.

• More and more client contracts are specifically requiring insurance coverage for these types of costs be evidenced
• Data breach disclosure laws have been enacted or introduced in a majority of states, as well as in the European Union, and continue to evolve

Cyber Risk insurance policies provide direct access to data breach consultants and panels of experts to assist firms that suffer data breach events. The insurance also addresses expenses for forensic investigation and public relations, as well as notification costs, credit monitoring, and consumer education and assistance costs arising out of a data breach. Some policies also cover the cost of retaining outside counsel to evaluate the firm's potential obligations for a breach.

Cyber Risk insurance can be designed to cover certain additional exposures:

• Privacy and Security Liability
• Business Interruption and Extra Expenses
• Contingent Business Interruption
• Cyber Extortion
• Data Corruption
• Media Liability