• Cyber and privacy insurance is a type of insurance designed to protect consumers of technology services or products. In particular, the policies are designed to cover various damages, both liability and property, that may arise when a company engages in various electronic activities, such as selling on the Internet or collecting data on its internal electronic network. Primarily, but not exclusively, cybersecurity and privacy policies cover the liability of a business for a data breach in which personal information of a firm’s customers, such as social security or credit card numbers, is disclosed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network. . The policy covers various costs associated with a data breach, including: notification costs, credit monitoring, costs of defense against claims from government regulators, fines and sanctions, and losses due to identity theft. In addition, the policies cover liability arising in connection with the media content of the website, as well as risks associated with property resulting from: (a) business interruption, (b) data loss/destruction, (c) computer fraud, (d) loss when transferring funds and (e). ) cyber extortion. Cyber security and privacy insurance is often confused with tech E&O insurance. Unlike cyber and privacy insurance, tech E&O coverage is designed to protect providers of technology products and services, such as computer software and hardware manufacturers, website developers, and firms that store corporate data on a remote basis. However, technical E&O insurance policies contain a number of the same insurance agreements as cybersecurity and privacy policies.