Under the ISO commercial Cyber Insurance Policy, who qualifies as an insured?

Under the ISO commercial Cyber Insurance Policy, the term "insured" is generally defined to include not only the named insured (such as the business entity itself) but also certain key individuals associated with the organization. This commonly encompasses former employees, which is significant because it extends coverage to those who may still have exposure due to prior actions during their employment, thus offering protection against potential risks that could be claimed even after their departure.

Including former employees in the definition of an insured acknowledges that cybersecurity incidents can arise from actions or omissions made during their tenure, which subsequently impacts the company. Therefore, this aspect of the policy enhances the security coverage for the organization as a whole, recognizing the importance of those who have previously worked for the entity.

The other options provided in the question are limited in scope. Only considering the owner or only current employees would restrict the coverage and fail to account for the broader range of individuals who might still be associated with or impact the entity's cybersecurity standing. Non-employee independent contractors are typically considered distinct from insured parties under such a policy, as they are not directly employed by the company and may have separate contractual obligations regarding liability and coverage. Thus, the inclusion of both the named insured and former employees signifies a more comprehensive approach to risk management