What it does
CY 20 17 is an optional exclusion filed with the 11 21 cyber forms that removes coverage for software infringement claims, as defined in the endorsement.
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
- Relevant for businesses that develop, license or distribute software.
- IP claims are usually better placed on technology E&O or IP coverage.
- Ask the underwriter whether it can be removed for accounts without software exposure.
