What it does
CG 40 35 adds Coverage A and Coverage B exclusions for injury or damage arising out of a "cyber incident", even if damages are claimed for notification, credit or identity monitoring, forensic, public relations, data restoration or extortion expenses.
Who needs it
Businesses where a hack or ransomware attack could cause physical injury or property damage, such as manufacturers, utilities, building management firms and healthcare providers.
Key provisions and limits
- "Cyber incident" means unauthorized access to or use of any computer system; malicious code or virus designed to access, alter, corrupt, damage, delete, encrypt or disrupt any computer system; or a denial of service attack.
Quoting and selling notes
- This removes the CGL's potential response to physical consequences of cyberattacks; review the client's cyber policy for bodily injury and property damage coverage.
- CG 04 25 adds back cyber incident liability coverage with separate limits; CG 34 97 and CG 34 99 are versions for other coverage parts.
