What may not be covered in your Cyber Liability policy
Cyber Liability policy forms may or may not cover the following types of identity theft:
- Pfishing Attacks Pfishers send emails that highjack the names of trusted companies like banks, credit card companies, e-retailers, etc. in an attempt to trick recipients into visiting counterfeit websites and entering confidential data into web forms. Account numbers, credit card numbers, social security numbers, user names, and passwords are examples of the types of information cyber criminals seek to obtain. Once this information has been received, the theft can begin.
- Pfarming Attacks Pfarmers send emails or design websites that plant crimeware into home computers and PC’s that extracts confidential information through the use of key logger monitoring software.
Some carriers may allude to coverage for pfishing and pfarming by using terms such as unauthorized access or breach of security. The better forms will have affirmative coverage grants. A specific limit may be available for a business to restore their credit after an identity theft has occurred.