What it does
CY 20 16 is an optional exclusion filed with the 11 21 cyber forms that removes coverage tied to social media activity, as defined in the endorsement. It narrows media and privacy exposures for insureds the underwriter does not want to cover for social media content.
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
- Ask how the client uses social media for marketing and who controls the accounts.
- Media liability for content is a key part of CY 00 03; this exclusion can remove much of it for social platforms.
- Compare quotes for the presence of this exclusion.
