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Policy A“We will reimburse you for the ExtortionExpenses and Extortion Monies . . . paidby you and resulting directly from anyCredible Threat . . . during the PolicyPeriod.”CommentaryThe language of this policy expressly coversmoney paid for extortion to protect orrecover your data; however, other policiesoffering the same type of coverage onlycover related expenses (e.g., forensics,recovery of the data, etc.) by do not coverthe actual extortion payment itself.Policy A“Wrongful Act means any error,misstatement, misleading statement, actomission, neglect, breach of duty, orPersonal Injury offense actually orallegedly committed or attempted by anyInsured, in their capacity as such . . .”CommentaryThis definition raises the question whethercoverage is afforded in the event that anemployee steals data or otherwiseintentionally – that is, outside the scope oftheir employment – harms the informationsystem and should be carefully considered.6. The Cyber policy marketThe good news for companies purchasing cyber risk insurance is that rates arerelatively stable and new products are coming on the market every month.March &McLennan Companies estimated the gross premium for cyber products in 2013 was $1billion; M&M estimated that would double in 2014. Rates have been relatively stable,