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Legal Expense Coverage

Definition

Covers the cost of legal advice and representation for covered issues. It helps reduce the financial impact of legal disputes.

What to consider

  • Review what specific cyber threats are covered.
  • Understand the response and remediation services offered.
  • Assess the premium relative to your cyber risk.

Real world scenarios

  • A company subscribed to a cybersecurity protection plan to cover losses from data breaches and cyberattacks.
  • An entrepreneur invested in a plan that provided emergency support during cyber incidents.
  • A mid-sized business used a cybersecurity plan to mitigate risks from ransomware attacks.

Related terms

Coverage Review
Self-Insured Retention
Loan Protection Insurance
Insurance Covenant
Loss Adjustment

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