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Crisis Management Coverage

Crisis Management Coverage

Definition

An insuring agreement found within technology errors and omissions and Internet/online property and liability insurance policies. Subject to a sublimit (e.g., $25,000–$50,000), crisis management coverage generally reimburses expenses incurred to restore confidence in the security of the insured's computer system. For example, a crisis management firm might be hired to develop a program for reassuring the customers of an online retailer that, following a breach of the retailer's security system, the system has been reconfigured to prevent future breaches.

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