Insights

For directors and officers considering a seat in the c-suite, the prospect of having your personal assets exposed can be a scary one. Before accepting that seat, it's important to understand how/when your assets could come into play and the scope of protection the company is affording you. Do not make the mistake of sitting on an uninsured board or thinking that a personal umbrella will provide coverage.

This may come as a surprise, but not all cyber policies provide coverage for self propagating code such as viruses, trojans or malware. While most policies today do provide coverage for such claims, some carriers' forms still contain exclusions, particularly older forms and more basic policy endorsements. This exclusion can generally be located in one of two areas.