Cyber Liability

Comprehensive cyber insurance to protect clients from one of the most volatile risks facing businesses today.

With recent data breaches hitting the headlines around the world, loss of personal and corporate data has far-reaching ramifications that could potentially change the way business is carried out. Most high-profile stories in the media today address the type of data loss that impacts people on a personal level; credit card numbers, medical records, birth dates, ID/passport numbers and other private personal information. We should also be mindful of the impact from the loss of corporate data and information such as intellectual property and proprietary information, which in the hands of a competitor or even an extortionist can severely disadvantage business.

Features and Benefits

• Event Management Insurance - coverage responds to security failure or private breach, paying costs of notifications (including voluntary notifications), public relations and other services to assist in managing and mitigating a cyber incident. Forensic investigations, legal consultations and identity monitoring for victims of a breach are all included.
• Network Business Interruption Insurance - Responds to loss of income and operating expenses when a company's business operations are interrupted or suspended due to a network security failure.
• Cyber Extortion Insurance - Responds to the Threat of intentional security attacks against a company by an outsider attempting to extort money, securities or other valuables. This also includes the cost of an investigation to determine the cause of the threat.
• Expert Consultants - coverage includes access to expert consultants to deal specifically with digital forensic investigation, IT risk management and data recovery, reputational risk and specialist legal services.
• Wide definition of Insured - including director or partner, in-house counsel, data protection officer, Chief Compliance Officer, employee, estates or legal representatives of any insured.
• Wide definition of Data, Data Protection, Breach of Duty.
• Outsourcing - breach of Data Protection by an Outsourcer where the Data User or Policyholder is legally liable.