Privacy Protection

Privacy Protection provides liability coverage and expense reimbursement for claims alleging Wrongful Privacy Acts that are non-electronic in nature. Wrongful Privacy Acts are defined as the negligent management, oversight or preservation of confidential customer information by the Insured, which results in the intentional misuse of such confidential customer information by an employee or other unauthorized person.
 

Sample Endorsement
Coverage Summary

Claims Examples
In each of these cases, the bank notified customers, reissued plastic cards, and provided credit monitoring services to mitigate potential liability.
  • Work papers were stolen from a bank examiner’s vehicle containing customer data from two banks.
  • Laptop computers were stolen from a bank when staffers were away from their desks.
  • Reports containing data about more than 1,000 customers were stolen from the car of a bank officer while it was parked in a hotel garage.
  • A laptop containing data for thousands of customers was stolen from a bank’s vendor.
  • A bank’s computer tape shipped to a credit reporting bureau was lost in transit.
Features
  • Available as a separate endorsement to the D&O Policy.
  • Privacy Liability affords personal injury liability coverage for Wrongful Privacy Acts.
  • Privacy Liability Mitigation Expense indemnifies the bank for expenses incurred to minimize its liability in the case of unauthorized access to customer information, including costs to:
    • Notify customers;
    • Change account numbers;
    • Reissue plastic cards to those directly affected;
    • Provide basic credit monitoring services; and
    • Hire a public relations consultant.
 

Notwithstanding any language to the contrary, nothing contained herein constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. All coverage descriptions and claims examples are provided for informational and educational purposes only and are not a representation as to coverage for any particular claim and are not represented to be error free. Coverage for any claim is determined upon the specific facts of the claim, the terms and conditions of the policy and applicable law. For details on the coverage provided by your specific contract of insurance, please refer to your policy. Coverage is subject to underwriting guidelines and may not be available in all states. Limits may be capped for underwriting reasons. Any links to any sites which are not originated by ABA Insurance Services Inc. (ABAIS) are provided only as a courtesy and are not intended to nor do they constitute an endorsement by ABAIS of the linked materials.