What Does Extortion Expense Coverage Cyber Liability Mean?

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What does Extortion Expense Coverage Cyber Liability mean? Read on to discover the definition & meaning of the term Extortion Expense Coverage Cyber Liability - to help you better understand the language used in insurance policies.

Extortion Expense Coverage Cyber Liability

Extortion Expense Coverage Cyber Liability

Coverage, found in some professional liability technology policies, that covers the insured for reasonable and necessary expenses incurred as a result of a network extortion threat. This would include, for example, "ransom" payments to those thought to be behind the threat. All payments must be made with the insured's written consent.

We hope the you have a better understanding of the meaning of Extortion Expense Coverage Cyber Liability.

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