How do claims work? – CyberFortress

Our policy is an occurrence policy, meaning that we cover losses sustained within the policy period.
The claim is linked to the policy that was in effect when the claim was submitted.
Our technology is constantly monitoring our book of domains for downtime at 1 minute intervals so we know when our insureds are up or down. We will contact our insureds as soon as we notice that they are down and tell them to submit a claim.
The insured should only submit a claim when they have suffered downtime for the covered domain that has prevented them from collecting online transactional revenue.
They should only close a claim when their covered domain is no longer down and they are once again able to collect online transactional revenue.
In the event of non-disputed claims, we will send claims payments within 24 hours of the incident’s start date. Claim payments are calculated at regular 12 hour intervals up to the incident end time or limit of the policy.
If the claim ends before 24 hours have been reached, we will send a payment upon closure of the claim by the claimant.
The claimant needs to open a claim before we can send payment.
The insured must already have bank account information saved in the One Inc modal before a claim can be opened. If they have not they will be prompted to do so.
The claim will need to close the claim after an incident ends or we will close the claim automatically 24 hours after we register the incident end time.
In the event of a disputed claim, we waive the 24 hour window as more time is required to investigate the claim.
Our claims are disbursed via ACH to the insured’s bank account which they must provide.
The claim payments are batched together and disbursed once a day at 9pm.
Our claims payment provider is One Inc.
We do not store bank account information that the claimant inputs into the Bank Account Information Screen. That is a modal from One Inc and they store the information. It is not on our servers.
If an insured is currently experiencing downtime and cancels their coverage to get a new policy, they will be unable to purchase coverage.
Questions about specific claims should be referred to Alex Tsetsenekos, Chief Insurance Officer. His email is alex@cyberfortress.com. To call him, call support at 1 (856) 281-3814 and ask to speak with Claims. He is the only licensed claims adjuster on staff.