The new coverage protects chief information security officers (CISOs) from personal liability in the face of evolving cyber threats. Credit: Vitalii Vodolazskyi/Shutterstock.

Crum & Forster (C&F) has introduced a new professional liability insurance policy tailored for CISOs.

This coverage aims to shield CISOs from personal liability amidst a complex and evolving cyber threat landscape.

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The policy recognises the crucial role CISOs play in cybersecurity and addresses the gap in protection they often face compared with other top executives.

It arrives as CISOs grapple with increasing responsibilities and risks, particularly with heightened regulatory scrutiny.

These professionals, tasked with safeguarding their organisation’s digital assets, may not be legally recognised as corporate officers, which can leave them vulnerable to personal financial losses.

C&F’s policy offers a solution by providing coverage that may not be available under standard directors and officers insurance.

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The policy’s key features include comprehensive professional coverage that extends to consulting, moonlighting and pro bono IT security work, without needing the employer’s consent.

It also offers zero deductible defence costs, ensuring CISOs have immediate financial protection for covered losses.

Furthermore, it features a broad claims definition including coverage for claims arising from criminal proceedings such as arrests or indictments.

C&F executive risk senior vice-president Leigh McMullan said: “C&F is committed to supporting CISOs as they navigate their high-stakes role.

“Our CISO Professional Liability solution underscores C&F’s commitment to offering innovative, targeted coverages that meet the evolving needs of cybersecurity professionals.”

In an environment where the US Securities and Exchange Commission is intensifying cyber disclosure regulations, CISOs are increasingly at risk of civil and criminal charges related to disclosure violations.

C&F’s policy is designed to provide defence and indemnity protection against these emerging risks, aiming to mitigate personal exposure for CISOs.

The company offers a range of specialty insurance products through its network of agents, brokers and wholesalers.

In 2023, C&F Accident & Health acquired Partners Managing General Underwriters.