MS SB2894

Adds "cybersecurity insurance" to the Mississippi Insurance Guaranty Association statutes, defining it as first- and third-party coverage for losses arising from data privacy breaches, network security intrusions, computer viruses, ransomware, cyber extortion, and similar exposures.

Establishes a $400,000 per claimant limit for property damage covered claims, increasing from the $300,000 general limit for other covered claims.

Caps cybersecurity insurance claims at $300,000 per insured event regardless of the number of claims or claimants filed under a single policy or endorsement.

Effective July 1, 2025.