ISO Enhances Its Cyber Liability Insurance Program with Media Liability Coverage

JERSEY CITY, N.J., July 29, 2013 — ISO announced today revisions to its e-commerce (cyber insurance) product. The E-Commerce Program enhancements from ISO introduce new insurance policies designed specifically for companies with a media liability exposure. Both a “claims-made” and “occurrence” version, each providing defense within limits, are available. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK).

The new policies complement ISO’s existing cyber liability insurance policies: the Information Security Protection Policy (for commercial risks) and the Financial Institutions Information Security Protection Policy (for all financial institutions).

ISO’s media liability policies offer eight separate insuring agreements: media liability; security breach liability; programming errors and omissions liability; replacement or restoration of electronic data; extortion threats; business income and extra expense; public relations expense; and security breach expense. All of them can be written with separate limits and deductibles. Similar to the existing ISO cyber insurance policies, the new media liability policies have associated manual rules and loss costs.

Particularly noteworthy are the security breach agreements. They provide an insured with protection for its liability due to a data security breach and the costs incurred as a result of the breach. “The alarming frequency and severity of data breaches suggests that, for many businesses, it’s no longer a question of ‘if’ but ‘when’ they will suffer a data breach,” said Beth Fitzgerald, senior vice president of ISO’s Insurance Programs and Analytic Services. “Protecting against financial loss resulting from a data breach is a critical issue for businesses of all types and sizes.”

ISO has also introduced several new optional coverages for use with all of its cyber policies, including defense expenses, fines, and/or penalties coverage for a regulatory proceeding or payment card industry (PCI) action; computer fraud; and telephone toll fraud.

“Cyber insurance is a dynamic, evolving product that in a few short years has become a necessity for every business in America,” added Fitzgerald. “The enhancements to the ISO E-Commerce Program provide insurers with the tools necessary to keep pace with this rapidly changing market.”

ISO has submitted the filings to state insurance departments, with a planned February 1, 2014, implementation date.

About ISO
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK). For more information, visit and

Release: Immediate


Erica Helton/Giuseppe Barone
MWW Group (for ISO)

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