Updated terms and conditions for insurance carrier Chubb a sign of times to come? Recently posted at https://www.chubb.com/us-en/cyberlimitation.html
At least we still have act of God coverage. What’s next?
Chubb is taking steps to provide greater clarity to you that the insurance terms and conditions offered with your card are not intended to cover cyber risk. Chubb is amending the terms and conditions of your benefit guides to clarify this language.
Losses caused by or resulting from a Cyber Incident are not covered under the following benefits:
Auto Rental Collision Damage Waiver
Purchase Security
Extended Warranty
Cell Phone Protection
What is a Cyber Incident?
A Cyber Incident means any of the following acts:
(a) unauthorized access to or use of Your Digital Data or an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase;
(b) alteration, corruption, damage, reduction in functionality, manipulation, misappropriation, theft, deletion, erasure, loss of use or destruction of Your Digital Data or an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase;
(c) transmission or introduction of a computer virus or harmful code, including ransomware, into or directed against Your Digital Data or an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase;
(d) restriction or inhibition of access to or directed against Your Digital Data or an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase;
(e) computer errors, including human operating error or omission; power failure, surge, or diminution of electronic systems; or mistakes in legitimate electronic code or damage from code installed on an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase during the manufacturing process, upgrade process, or normal maintenance.
What is Your Digital Data?
Digital Data means information, concepts, knowledge, facts, images, sounds, instructions, or Computer Programs stored as or on, created or used on, or transmitted to or from computer software (including systems and applications software), on hard or floppy disks, CD-ROMs, tapes, drives, cells, data processing devices or any other repositories of computer software which are used with electronically controlled equipment. Digital Data shall include the capacity of an Eligible Wireless Cellular Telephone, Rental Vehicle, or Covered Purchase to store information, process information, and transmit information over the Internet. ““Computer Programs” means a set of related electronic instructions which direct the operations and functions of a computer or device connected to it, which enable the computer or device to receive, process, store, retrieve or send data.