Privacy, Cyber and Technology



Technology is an integral part of our economic activity. Reliance on networks, including the applications and data therein, creates vulnerability to information, technology and cyber risks that fall outside the scope of traditional insurance policies.

Whether an organization provides technology products or services or their business relies upon such, technology failure can lead to significant costs and create substantial legal liabilities and may seriously undermine public confidence in a company’s brand.

Privacy, Cyber & Technology Liability insurance offers a risk transfer solution for first and third party exposures from various cyber threats; the most common examples are the well funded, targeted intrusions, the disgruntled employee publishing confidential data, or the lost or stolen laptop, smartphone or USB stick.

Paragon’s Privacy, Cyber & Technology Liability policies are modular in style. We can tailor a combination of the following coverages to fit your exposure:

• Privacy & Security Liability – offering coverage for defense costs and damages to third parties and employees for the failure of network security resulting in a violation of a right to privacy or confidentiality or resulting in a denial of service attack or virus transmission.
• Breach Notification Costs – offering coverage for the costs to notify individuals of a release of their private information, as well as costs to provide credit-monitoring or other services in the event of a security breach.
• Regulatory Defense – offering coverage for defense costs and damages as a result of regulatory action following a security breach.
• Loss of Network Asset – offering coverage for the costs of specialists and investigators to assess and repair system damage, including the costs to restore or replace data after a security breach.
• Loss of Business Income – offering coverage for the loss of business income if systems or data assets were lost, corrupted or inaccessible as a result of security breach.
• Public Relations – offering coverage for the costs to engage public relations assistance in the event of security breach.
• Media Liability – offering coverage for defense costs and damages to third parties arising out of the release or display of any media resulting in a violation of the legal issues which apply to traditional publishers, such as copyright, defamation and infringement ofintellectual property.
• Technology Liability – offering coverage against potentially expensive and distracting litigation involving professional negligence or charges of breach of contract in the performance of technology products and services.

Where we can we will provide guidance through our bespoke risk management services company to help organizations understand and mitigate their potential exposures.