Cyber extortion and ransomware

A real-life situation involving cyber extortion and ransomware has occurred or may occur.

Insurance that may respond

Possible coverage may include Cyber and privacy or a related endorsement, depending on the actual facts and policy wording.

What usually triggers coverage

A covered event must fit the insuring agreement, policy period, insured person or property, and reporting requirements.

Common limitations or exclusions

Exclusions, conditions, deductibles, sublimits, late reporting, missing evidence, policy definitions, and jurisdiction-specific rules may affect the result.

What to do now

Preserve documents, photos, invoices, timelines, policy pages, correspondence, and ask the insurer or licensed professional which clause applies.

Questions to ask

• Which policy line is supposed to respond?
• Is coverage automatic or endorsed?
• Which exclusion, condition, deductible, limit, or sublimit applies?
• What evidence is still missing?
• What deadline or reporting condition should be checked?