Cyber Liability Insurance for Design Professionals

Smart Solutions for Modern Risks

Design and consulting firms depend on technology for creating, sharing and communicating. But the technology that you rely upon daily also makes your firm vulnerable to cyber attacks and privacy breaches that can result in expensive out-of-pocket and reputational costs. Many design firms believe their insurance policies will cover damages to their firm and to third parties from losses caused by cyber privacy related issues. But significant coverage gaps exist in most standard policies, even when cyber liability is expressly covered. Why obtain cyber liability insurance? Read below.

• Cyber claims commonly are denied coverage under a typical General Liability Policy because electronic data does not satisfy the definition for property damage, which triggers coverage.
• Similar gaps exist under typical Professional Liability policies, where the coverage trigger is negligence in rendering professional services. Common exclusions may include:
  • A lawsuit is brought alleging defamation and privacy breach from an employee’s malicious conversation on social media about a client.
  • First party property loss coverage – Your firm’s computers, software, laptops, cell phones, etc.
  • Business Interruption – Your firm’s loss of profits & continuation of ordinary operating expenses including payroll when unable to operate due to cyber attack or privacy breach.
  • Computer Program & Electronic Data Restoration – Your firm’s costs for repair and restoration of computer programs and electronic data caused by a cyber attack or computer virus.

What insurance policy will cover cyber attacks & privacy breaches, and how much will it cost? Hall & Company’s Cyber Security and Privacy Liability Policy is designed to cover these exposures for design & consulting firms. It offers:

• First party protection for the firm, with Loss of Digital Assets, Non-Physical Business Interruption, Extra Expense, Cyber Extortion, Cyber Terrorism, and Security Event Crisis coverage.
• Third party protection for the firm’s clients, with Network Security and Privacy Liability, Employee Privacy Liability, and electronic Media Liability coverage.

Claim Scenarios

Cyber-Liability Application

Cyber-Liability FAQ

The cost for a Cyber Security Liability for engineers, architects, and consulting firms varies by state, policy limits and coverages. For example, the cost options for an architect based in St. Louis, Missouri, are as follows:

Annual Premium, Taxes & Fees

This is information is provided for illustration purposes only and does not constitute a quote for coverage.

For a cyber liability and privacy liability consultation or questions please contact:

Chris Engstrom, Senior Producer
Direct Line: 360-626-2015
Email: cengstrom@hallandcompany.com