On March 5th, 2012 the Insurance Journal published an article called "What Insured's Should Know About Avoiding Cyber Liability Exposures". It was written by Christopher Bomar of Boomarang Data Backup. In the article he brings up scenarios of possible insurance claims, where the gaps might be in covering such claims and how to avoid such gaps. It is a well written article and even has a quote from one of Fey Insurance's very own, Brian Fey.
Please take a look at the article as it does a great job of showing the current status of Cyber Liability needs, gaps and exposures.
Article: What Insured's Should Know about Avoiding Cyber Liability Exposures