Frequent questions. Straight answers.
What is the difference between an agent and CDI? An insurance company representative licensed by the state, who solicits, negotiates or effects contracts of insurance, and provides service to the policyholder for the insurer. CDI intelligent agent (IA) is an insuring component embedded in the CDI Policy Management System's data insuring process.
What is alternative risk transfer? (ART) Non-traditional arrangements for handling the financing of risk. These arrangements blend risk transfer and risk retention mechanisms and, together with self-insurance, are known as the alternative market.
What is an annual aggregate cap? The total amount of claims a policyholder can receive for losses that occur in one year.
What is a broker? A marketing specialist who represent buyers of liability insurance and agents or companies in arranging for the coverage required by the customer.
What is a captive? A special type of insurance company set up by a parent company, trade association or group of companies to insure the risks of its owner or owners, and in some cases also risks unrelated to their owners.
What are conditions? Provisions in an insurance contract that qualify or place limits on the insurer’s promise to perform.
What is consequential loss? Financial loss occurring as the consequence of some other loss. Often called an indirect loss. Consequential loss or damage is indirect loss or damage resulting from loss or damage caused by a covered peril, such as fire or windstorm. Business Interruption insurance extends consequential loss or damage coverage for such items as extra expenses, rental value, profits and commissions, etc.
What is a CDI Virtual Module? A virtual software appliance prepared for each customer that contains all of the components necessary for the installation, administration and use of Cloud Data Insurance (CDI). The components include risk-rate calculator, risk mitigation module and software rules for the CDI Master policy to effect the individual deep packet inspection 'tag', valuation and egress data requirements.
What is cyber-insurance? An aggregate policy that insures a company’s overall technical and operational e-business infrastructure. Typical coverage can be against traditional risks such as E&O, malicious libel, or against risks that arise from Internet technology usage, such as, virus protection, hackers insurance.
What is Cybersecurity Data Insurance? Also known as CDI. Through unique algorithms, this risk initiative for online liability measures the dynamic individual exposures and liabilities leading toward the underwriting of risks when transmitting and storing data. This is also known as the CloudCover Protocol - the protocol provides for sensitive data to be safely insured for protection over the Internet.
What is cyberpiracy? The stealing or copying of copyrighted works using electronic means.
What are cyber-risks? Threats that arise in an electronic commerce operation such as, network failure, data corruption, hacker intrusion, virus corruption, or hardware failure.
What is the CloudCover Protocol? This is a fundamental digital risk protocol and is identified as nano-insurance, known as Internet Cloud Data Insurance. Assembled are the digital risk requirements that will become the foundation for the future underwriting Internet risk-architecture and security definitions that will provide incremental online mitigation of the best security for sensitive data safely being transmitted over the Internet.
What is CDI? Also known as Cybersecurity Data Insurance. This is also known as the product that is the finish-up of the CloudCover Protocol - the protocol provides for sensitive data to be safely insured for protection over the Internet.
What is declaration? Statements in an insurance contract that provide information about the property to be insured. It is used for underwriting and rating purposes and identification of the property to be insured.
What is defined coverage? Defined Coverage insures a specific category (or classification) of data risk. Each class of data has a set insured value with set limits. Data filters are created to identify the digital information insured within industries.
What is direct write? The industry term for a company that uses its own sales employees to write its policies. Sometimes refers to companies that contract with exclusive agents.
What is an endorsement? An additional policy wording, not part of the original contract, which cites certain terms and which, when attached to the original contract, become a legal part of the contract.
What is e-discovery? Electronic discovery. E-mail and other electronic communications are not immune from legal discovery. Documents and messages contained on hard drives, floppy disks, magnetic tapes, zip drives, backup disks, and other electronic devices, including temporary or permanent RAM and cache storage, are subject to discovery, as are cell phone logs, message-recording devices, and Internet servers.
What is E&S coverage? Also called Excess and Surplus Insurance is: (1) Coverage designed to protect against losses above a certain amount, with losses below that amount usually covered by a regular policy. (2) Insurance for a risk for which coverage is unavailable in the normal market.
What is an exclusion? Specific conditions or circumstances listed in the policy for which the policy will not provide benefit payments.
What is a hacker? A person who breaks computer security or gains unauthorized access to a computer system or file.
What is an CDI app? A patent method used to manually elect to insure data. It appears as an icon on a smart phone device screen. By selecting this icon instead of the send button, the user will be applying CDI insurance to data transmission.
What is CDI data tracking mechanism? This is software components that identifies a data transmission as insured. It encapsulates (packet) tracking and security identifications as defined by the CDI policy. The tracking mechanism accompanies packet transmission from initiation to delivery.
What is insured asset value? The declared value of a data transmission or transaction.
What is an insuring agreement? The section of an insurance policy that states the promises of the insurer
What is a manuscript policy? Policy designed for a firm's specific needs and requirements. CloudCover policies are written to cover specific commerce activities.
What is private key? An encryption method where the sender and the receiver use the same encryption key or algorithm. When the receiver becomes the sender, a separate key is used, and the receiver (the original sender) must have that same key. Thus, there must be two separate keys for each party with whom a business or institution deals— 300 customers, 600 keys.
What is real-time analytical? Real-time analytic is the use of, or the capacity to use, all available enterprise data and resources when they are needed. It consists of dynamic analysis and reporting, based on data entered into a system less than one minute before the actual time of use. Real-time analytic is also known as real-time data integration, and real-time intelligence.
What is a self-funded plan? A form of risk management through which a company assumes all or a part of its own losses. Insurance plans that allow employers to actively participate in their company's particular insurance coverage, gaining greater control over both the design and financing of the plan.
What is a security certificate? Information files used by security protocols to establish a secure connection between parties. Both parties must have a certificate, which contains information about the parties, unique identification numbers, encrypted contents.
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