Cyber risk is becoming so complex and has so many different meanings to world business that it is impossible to provide a one size fits all insurance product. This has led to difficulty in quantifying loss and for a buyer to understand the cyber product and what is covered.
So we have developed, with Lloyd’s underwriters, a ‘pick you own’ cyber policy concept in which relevant modules are selected according to the buyer’s risk, and which are specifically targeted to cyber exposed business in most industry sectors.
- Pre and post breach risk management services
- Crisis management and brand re-establishment costs
- Forensic costs
- Cyber terrorism
- Liability covers extend to providers and vendors
- Full Prior Acts
- Computer crime and fraud
- Programming and human error
- Reputational harm
- Voluntary notification
- Rogue employees
- Worldwide jurisdiction
Additional coverage includes:
- Vendors business interruption and data restoration
- Contingent Bodily injury/Property Damage
- Notification costs in addition to limit
- Fines and penalties payment to payment card companies
- General liability
covers a company’s own losses from network interruption or security breach.Electronic theft and computer fraud
covers the loss of money or assets following a security breach.
Professional Technology Services
covers actual or alleged breach of duty, error or omission in providing technology services
Non technology and miscellaneous services
covers actual or alleged breach of duty error or omission in providing non technology services that are subject to cyber risk
covers the cost of an extortion threat against the insured’s network.
covers loss of business income from a loss of contract and reputational damage after network event.
loss of money or assets as a result of phishing or an electronic scam.Privacy regulatory defence
covers legal defence costs for regulatory action brought following breach of privacy regulations.
Event support expense
covers the costs of mitigating adverse publicity after a network event (includes personal credit monitoring)
Security and Privacy
liability covers legal liability from failure to protect confidential information.
covers liability from advertising and intellectual property risks.
Each module consists of standard coverage with an additional coverage section as required.