Mitigata Glossary

We Work To Create A Simple Solution For Not So Simple Things.


Accidental Damage

Unexpected and non-deliberate external action that causes damage to the insured property

Actual Cash Value (ACV)

Repayment value for indemnification due to loss or damage of property; in most cases, it is replacement cost minus depreciation

Add-on Covers

Additional covers that are offered with the standard insurance policy for extra security

Advanced Persistent Threats (APTs)

These are cyber threats where an unauthorized user gains access to a system or network and remains there undetected for a long period


Verification of an individual, system, or entity's identity

Attack Vector

The path or method by which a hacker gains access to a computer or network to deliver a malicious payload



The person or party named by the owner of a life insurance policy to receive the policy benefit


Temporary authorization of coverage issued prior to the actual insurance policy


A group of private computers infected with malicious software and controlled as a group without the owners' knowledge, usually for nefarious activities

Business Email Compromise (BEC)

A sophisticated scam that targets businesses that regularly perform wire transfer payments

Black Hat

An individual who hacks with malicious intent, often for personal gain



A formal request to an insurance company asking for a payment based on the terms of the insurance policy

Comprehensive Insurance

An auto insurance that covers damage of your car, other vehicles and property, theft, and damages caused by incidents other than car accidents

Cyber Liability Insurance

An insurance product used to protect businesses and individual users from Internet-based risks, typically risks related to information technology infrastructure and activities


The protection of computer systems from theft or damage to their hardware, software, or electronic data, as well as from the disruption or misdirection of the services they provide

Cyber Extortion

A crime involving an attack or threat of attack against an enterprise, coupled with a demand for money to stop the attack



The amount of loss that the insured is responsible to pay before benefits from the insurance company are payable


Decrease in the value of property over a period of time due to wear and tear or obsolescence

Data Breach

A confirmed incident in which sensitive, confidential or otherwise protected data has been accessed and/or disclosed in an unauthorized fashion

Denial of Service (DoS)

An attempt to make a machine or network resource unavailable to its intended users

Dark Web

The part of the World Wide Web that is only accessible by means of special software, allowing users and website operators to remain anonymous or untraceable



Written evidence of an agreed change in a policy


Those items or conditions that are not covered by the general insurance contract

Endpoint Security

A strategy that requires that network access attempts be evaluated for their risk before access is granted


The method by which information is converted into secret code that hides the information's true meaning


The state of being exposed to possible loss from a threat


Face Amount

The value of a policy to be provided upon maturity date or death

First Party

The policyholder (the insured) in an insurance contract


A network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules


The application of investigative analysis and interpretation to uncovered evidence after a security incident or data breach


Wrongful or criminal deception intended to result in financial or personal gain


General Insurance

Insurance that deals with property, liability, and other types of coverage, but not life insurance

Grace Period

A specified length of time within which a renewal premium that is due may be paid without penalty

General Liability Insurance

Insurance that covers a company for bodily injury, personal injury, and property damage caused by the company's operations, products, or injury that occurs on the company's premises

Grey Hat

A computer hacker who sometimes violates laws or typical ethical standards, but does not have the malicious intent typical of a black hat hacker


The way rules, norms, and actions are structured, sustained, regulated, and held accountable


Health Insurance

Type of insurance coverage that pays for medical and surgical expenses incurred by the insured


A skilled computer expert that uses their technical knowledge to overcome a problem


The physical parts of a computer or computer system

HTTP (Hypertext Transfer Protocol)

The protocol used for transmitting hypertext over the World Wide Web



Security or protection against a loss or other financial burden

Insurable Interest

Interest in property such that loss or destruction of the property could cause a financial loss

Identity Theft

The deliberate use of someone else's identity, usually as a method to gain financial advantage or obtain credit and other benefits in the other person's name

Incident Response

An organized approach to addressing and managing the aftermath of a security breach or cyberattack

Intrusion Detection System (IDS)

A system that monitors network traffic for suspicious activity and issues alerts when such activity is discovered


Junk Mail

Unwanted or unsolicited email


A popular programming language used both on client-side and server-side to make web pages interactive



A type of surveillance software that has the capability to record every keystroke you make to a log file, usually encrypted


The core of a computer's operating system, with complete control over everything in the system


Liability Insurance

Insurance that offers protection from third party claims arising from accidents caused by the policyholder


Termination of a policy due to failure to pay the required renewal premium


The company's or individual's legal responsibility for the damages caused by a security incident

Loss Control

Actions taken to reduce the frequency or severity of losses, including education, safety inspections, and risk management


The act of entering into a computer system or network by entering an identifier and password



The date on which the principal amount of a note, draft, acceptance, bond, or other debt instrument becomes due and payable

Moral Hazard

A condition that increases the likelihood of a loss due to an insured's indifferent attitude


Software that is specifically designed to disrupt, damage, or gain unauthorized access to a computer system

Multi-Factor Authentication (MFA)

A security system that requires more than one method of authentication from independent categories of credentials to verify the user's identity for a login or other transaction

Mobile Device Management (MDM)

The administration of mobile devices, such as smartphones, tablet computers, laptops, and desktop computers


Named Perils

Perils specified in a policy as being covered


A group of two or more computer systems linked together

Network Security

The practices adopted to prevent and monitor unauthorized access, misuse, modification, or denial of a computer network and network-accessible resources


Assurance that someone cannot deny the validity of something


One-Time Password (OTP)

A password that is valid for only one login session or transaction


The business practice of contracting with an outside party to take care of certain tasks instead of hiring new employees or assigning those tasks to existing staff



The cause of a loss


The written contract effecting insurance, or the certificate thereof, by whatever name called, and including all clauses, riders, endorsements, and papers attached thereto and made a part thereof


A cybercrime in which a target or targets are contacted by email, telephone or text message by someone posing as a legitimate institution to lure individuals into providing sensitive data


A set of changes to a computer program or its supporting data designed to update, fix, or improve it


A string of characters used for user authentication to prove identity or access approval to gain access to a resource



Isolating a computer or network to prevent the spread of malicious code or unauthorized access

Quality of Service (QoS)

The description or measurement of the overall performance of a service



The pricing factor upon which the insurance buyer’s premium is based


The automatic re-establishment of in-force status effected by the payment of another premium


A type of malicious software designed to block access to a computer system until a sum of money is paid

Risk Assessment

The process of identifying, analyzing, and evaluating risk


A collection of computer software, typically malicious, designed to enable access to a computer or an area of its software that is not otherwise allowed



The right for an insurer to pursue a third party that caused an insurance loss to the insured

Surrender Charge

Charge for withdrawals from an annuity contract before a designated surrender charge period

Social Engineering

The use of deception to manipulate individuals into revealing confidential or personal information that may be used for fraudulent purposes


Term Insurance

Life insurance payable to the beneficiary only when death of the insured occurs within a specified time

Third Party

A person other than the insured or insurer who has incurred losses or is entitled to receive payment due to acts or omissions of the insured


A type of malicious software that misrepresents itself to appear useful, routine, or interesting in order to persuade a victim to install it



The person trained in evaluating risks and determining the rates and coverages that will be used for them

Umbrella Policy

Coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance

Unauthorized Access

Gaining access to a computer system, network, file, or other resource without permission



The process of determining the value or amount of a policy, a property, or an amount claimed


Of no legal effect from the beginning


A type of malicious software that, when executed, replicates by reproducing itself or infecting other programs by modifying them



The voluntary abandonment of a legal right or advantage

Whole Life Insurance

Life insurance that provides coverage for the entire life of the insured, with a savings element

White Hat

An ethical computer hacker who specializes in penetration testing and other testing methodologies to ensure the security of a system



The dates on which an insurance policy expires


Specific conditions or circumstances listed in the policy for which the policy will not provide benefit payments


Yearly Renewable Term (YRT)

A type of term insurance that provides coverage for one year and allows the policy to be renewed and premiums to be paid on a yearly basis

Yearly Renewable Term (YRT)

A type of term life insurance that guarantees the ability to buy insurance for a set number of years, though premiums can increase each year

Yearly Price of Protection Method

A method used to approximate the cost of life insurance by taking the net amount at risk and multiplying it by the mortality rate


Zero Day Threat

A computer threat that tries to exploit computer application vulnerabilities that are unknown to others or undisclosed by the software developer, This means that the developer has zero days to prepare for the security breach and must work on patching the vulnerability immediately

Zero Depreciation Cover

Also known as nil depreciation cover or bumper to bumper insurance, this car insurance add-on ensures that you receive full compensation without any deduction for depreciation

Zone Rating

A method of rating auto insurance policies by territory where the policy was issued