► Ransomware Extortion Sublimit
A contractual clause in a cyber policy that caps payout for extortion demands at a fraction of the overall policy limit.
► Waiting Period (Business Interruption)
The deductible expressed in hours before an insured enterprise can begin claiming digital business interruption financial losses.
► AM Best Financial Strength Rating
An independent credit rating assessing an insurance carrier's balance sheet solvency and capacity to settle catastrophic breach claims.
► Co-Insurance / Co-Pay Clause
A provision requiring the policyholder to absorb a percentage (frequently 20% to 50%) of extortion payments unless strict EDR conditions are met.
► Endpoint Detection and Response (EDR)
Mandatory enterprise security software continuously monitoring end-user devices to detect and isolate advanced ransomware payloads.
► Mandatory MFA
Non-negotiable underwriting condition requiring multi-factor authentication across all remote access portals, admin consoles, and email infrastructure.
► Immutable Offline Backups
Data backups stored in air-gapped or cryptographically locked write-once cloud repositories, ensuring recovery even during active attacks.
► War and State-Sponsored Exclusion
Policy language excluding damages resulting from cyber warfare or hostile acts attributed to foreign nation-states under LMA wording.
► Breach Coach
Specialized cyber privacy legal counsel assigned by the insurer to manage forensic investigation, privilege, law enforcement notification, and regulatory defense.
► Social Engineering Endorsement
Optional policy rider covering fraudulent funds transfer scams where an employee is duped into wiring corporate capital to an unauthorized account.
► OFAC Sanctions Compliance
US Treasury regulations prohibiting ransomware extortion payments to designated terrorist organizations or sanctioned cybercriminal syndicates.
► Dependent Business Interruption
Coverage extending to business income loss caused by a cyber outage at a critical SaaS vendor, cloud provider, or outsourced data center.
► Forensic Accounting Costs
Reimbursement for specialized CPAs who audit server downtime to calculate exact gross revenue loss during a network outage.
► PCI-DSS Assessment Coverage
Coverage for contractual fines and forensic audit expenses levied by major credit card brands following a point-of-sale data breach.
► Bricking Coverage
Policy endorsement reimbursing the replacement cost of computer hardware rendered permanently inoperable due to malicious firmware overwrite.