What it does
CY 20 09 amends the settlement part of the Defense and Settlement section of the ISO cyber policies (11 21 edition), changing what happens when the insurer and the insured disagree about settling a claim, as set out in the endorsement. ISO refiled it in 2026.
Program context
In ISO's 2020 cyber multistate program revision, Verisk introduced a new Commercial Cyber Insurance Policy form and a new Information Security Protection Cyber Policy form that replaced all prior base coverage forms of the ISO Cyber program, together with new manual rules, loss costs and rating plan. The new forms carry the 11 21 edition (CY 00 02 11 21 and CY 00 03 11 21).
Quoting and selling notes
- Read the change with the client: settlement consent terms affect how much the insured may owe if it refuses a recommended settlement.
- Compare with competing cyber forms' consent-to-settle wording.
- New Mexico uses its own defense and settlement changes.
