Cyber Liability

Cyber Liability.jpg

Cyber threat is a daunting risk facing small and mid-sized businesses today. You may think that your business is too small to be impacted, but the scary truth is that a staggering 1 in 5 small to mid-sized businesses will fall prey to a cyber-attack, and of those businesses, 60% will shut down within 6 months.

Despite over $90 billion of annual consumer and business spending on cybersecurity defense, the problem is only growing. Unfortunately, the state of the cyber world is that nothing is or will ever be 100% secure and no one can defend themselves 100% of the time. The time has arrived that cyber risk management is a must for all organizations, no matter their size. 

Novel Insurance provides cyber liability policies to small and medium sized businesses with the following protections

3rd Party Liability Coverages

  • Network & Information Security Liability
  • Regulatory Defense & Penalties
  • Multimedia Content Liability (Not available to media companies.)
  • PCI Fines & Assessments
  • Technology E&O available by endorsement

1st Party Loss Coverages

  • Bodily Injury & Property Damage
  • Pollution
  • Systems Integrity Restoration
  • Fund Transfer Fraud (Not available to custodians of 3rd party funds.)
  • Digital Asset Restoration
  • Business Interruption & Extra Expenses
  • Cyber Extortion
  • Breach Response
  • Crisis Management & Public Relations
  • Reputation Repair

Included with all policies:

  • Worldwide Coverage: Protect data and assets no matter where they happen to be.
  • Cyber Terrorism: Each of the coverages includes protection from acts of cyber terrorism.
  • Internet of Things: Coverage for all of your client's IoT devices is included by default.
  • Social Media: Coverage for all of your client's social media accounts is included by default.


  • Pre-claims assistance
  • Covers all prior acts
  • Systems failure
  • Waiting Period - as low as 1 hour
  • Cost of system upgrades
  • Reputation repair
  • BYOD (bring your own device) coverage
  • Social media / IoT coverage
  • Cybersecurity apps

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