Berkshire Hathaway’s AmGuard Lawyers Professional Liability Insurance policy provides data breach coverage as an additional coverage. Few other malpractice insurers provide this as part of their base policy. Other malpractice insurers specifically exclude this coverage. While this important coverage is included, it is not a substitute for a complete Cyber Insurance Policy.
The 3rd party damages from a data breach involving Client Personal Identifiable Information (PII) requiring notifications and credit monitoring could easily exceed $25,000.
The AmGuard policy wording for Data Breach Expenses:
E. Data Breach Expenses
We will pay Data Breach Expenses on behalf of
the Insured resulting from a Privacy Violation
or a violation of a Privacy Regulation as a result
of a breach or potential breach of the Insured’s
network security, through hacking,
mismanagement, loss, unauthorized exposure or
theft of Personal Information, computer hardware,
software or personal digital assistant.
We do not assume any duty to defend under this
A Data Breach Expenses Each Claim limit of
$25,000 is the most we will pay for Data Breach
Expenses for a Privacy Violation or a violation
of a Privacy Regulation as a result of a breach
of the Insured’s network security. The policy
aggregate Data Breach Expenses limit of
$25,000 is the maximum amount we will pay for
all Data Breach Expenses.
The Data Breach Expenses limit is part of, and
not in addition to, the Each Claim and aggregate
limits specified in the declarations.
The deductible shown on the declarations page
does not apply to Data Breach Expenses.
This additional coverage cannot be increased. If the firm desires higher limits as well as other cyber related coverages purchase a standalone cyber policy.
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Lee Norcross, MBA, CPCU
California License # 0D87292
L Squared Insurance Agency, LLC ® DBA in California as
L2 L Squared Insurance Agency, License # 0L93416
Managing Director, CEO
(616) 940-1101 Ext. 7080