Pillsbury's tips for reviewing cyber insurance policies—what to look for, ask for and include before you buy.
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Make sure your policy limits and sublimits are adequate
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Request "retroactive" coverage for prior, unknown breaches
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Watch out for "panel" and "prior consent" provisions that purport to tie your hands in responding to a breach
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Get coverage for claims resulting from your data vendors' errors and omissions, not just your own
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If you handle data for others, make sure your liability to them is covered too
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Seek coverage for "loss" of data, not just data theft
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Dovetail your cyber insurance with data vendor indemnities to maximize both
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Harmonize cyber coverage with your other insurance
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Get a subrogation waiver from your cyber insurer
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Negotiate favorable defense provisions