Mercator Risk Services | Hacker Insurance

Technology and Cyber Risks

Hacker Insurance

Unauthorized access to electronic communications systems is growing at an alarming rate. As a result, "hackers" are creating a very serious exposure for almost any business that has a computer, telephone or voice mail system. Recent attacks, called denial of service attacks, have resulted in significant damage to web site operators and their business clients. One analyst estimated that a series of denial of service attacks against top 10 web sites cost the businesses involved more than $1.2 billion. Recently, insurance has become available for this exposure.

Mercator Risk Services Inc. ("Mercator" or "Mercator Risk Services") provides a specialty insurance product which provides protection for businesses that may be vulnerable to unauthorized access to their electronic communications systems. Coverage highlights include:

Broad coverage definition

Coverage is provided on a claims-made basis by insurers operating in the . The policy covers all electronic communication systems, including computer systems, telephone switches or satellite relays.

Target market

Ideally suited to any small-to-mid-sized business that would be impacted by an invasion to their telephone, satellite, facsimile or computer systems.

Two types of coverage

The policy is a claims-made and reported policy with defense within the limits. The policy provides two coverage parts:

Coverage A - Provides for the insured's liability that results from an unauthorized access.

Coverage B - Provides coverage for damage to the insured's electronic communication system because of unauthorized access.

Minimum premiums start at $3,000, deductibles at $1,000 and limits to $1.0 million and higher.

Request Information

Bold items are required.

Designed and Maintained by ForeSite