What it does
CY 20 40 amends the Replacement or Restoration of Electronic Data insuring agreement to include betterment expenses (improvements needed to prevent a repeat incident) and bricking expenses (replacing hardware rendered useless by a cyber incident), as defined in the endorsement. ISO also filed separate betterment-only (CY 20 42) and bricking-only (CY 20 44) versions.
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
- Bricking of point-of-sale terminals, routers and laptops is a common ransomware cost.
- Confirm any sublimit for these expenses.
- Ask whether the client's hardware is leased or owned.
