The cyber liability insurance program can provide individual leagues with protection against the following:
- Third-party claims arising from a failure of the insured’s network security or a failure to protect data. Insurance also responds to regulatory actions in connections with a security failure, privacy breach, or failure to disclose a security failure or privacy breach.
- Direct first-party loss mitigation costs of responding to a security failure or privacy breach by paying costs of notifications, public relations, and other services to assist in managing and mitigating a cyber-incident, including forensic investigations, legal consultations and identity monitoring costs for victim of a breach.
The policy is NOT intended to provide any benefits for the third-party vendors, such as companies that provide the league with online registration services.