Cyber/Crime
EPL
Directors & Officer
Liability Terms and Condition
Random
100

This insuring agreement on the Crime policy reimburses the insured when an employee steals or embezzles from the insured

What is Employee Theft?

100

An optional insuring agreement dedicated to claims brought by 3rd parties

What is Third Party EPL?

100

This insurance protects against claims of mistakes, negligence, inadequate work, inaccuracies, misrepresentations, or similar

What is E&O or Professional Liability insurance?

100

In the event of a lawsuit, the carrier has the obligation to defend the insured from complaints, including elements that are NOT covered

What is Duty to Defend?

100

The amount of money that you are required to pay per claim before the insurance company will begin to pay

What is a deductible or retention?

200

This insuring agreement reimburses the insured when an employee is tricked or duped into voluntarily sending money over to a threat actor

What is Social Engineering Fraud?

200

Claims brought in this state cost nearly double than all other states

What is California?

200

This excludes claims involving disputes between family members who have ownership interest in the insured entity

What is a Family Exclusion?

200

An entity that is majority owned by the Named Insured

What is a Subsidiary?

200

This condition in the liability policy is triggered when a subsidiary is newly formed or acquired

What is the Acquisition Condition? 

300

This form of currency is typically used to fund ransom demands

What is Bitcoin?

300

A discharge of a worker or workers because of economic conditions or shortage of work

What is a layoff?

300

This claim is brought when there are allegations of anti-competitive practices, monopolistic behavior, price fixing, or bid-rigging

What is Anti-Trust?

300

This condition is triggered when the named insured is acquired or when the majority ownership has changed

What is Change of Control?

300

This management liability policy provides coverage for claims related to the management and administration of employee benefit plans

What is Fiduciary liability?

400

This privacy control helps prevent unauthorized access by verifying something you know, something you have, or something you are

What is Multi-Factor Authentication (MFA)?

400

An optional insuring agreement addresses claims related to violations of laws governing overtime pay, minimum wage, and employee classification 

What is Wage & Hour defense?

400

This insuring agreement or "side" pays for loss from wrongful acts against the insured organization

What is C or side C?

400

An entity that shares common ownership and/or management in common with the Named Insured

What is an Affiliate?

400

In the event of a lawsuit, the carrier will reimburse the insured from complaints, but only for complaints that are covered under the policy

What is reimbursement?

500

This Cyber Insurtech carrier was acquired by Travelers in 2024

Who is Corvus Insurance?

500

This optional insuring agreement addresses issues related to the employment of individuals who are not legally authorized to work in the country

What is Immigration Claims defense? 

500

This is another name for Supplemental Personal Indemnification

What is additional "Side A" coverage?

500

This condition in the liability policy is also known as the "Hammer Clause"

What is the Settlement Condition?

500

A written demand for monetary, non-monetary or injunctive relief

What is a claim?