Cyber liability insurance
Comprehensive protection against evolving cyber threats and data breaches
Stay protected
Cyber liability insurance pays for the costs that follow a data breach, ransomware attack or phishing fraud. That includes forensic and legal help, notifying customers, lost revenue while systems are down, and claims from third parties. We arrange it for businesses of any size. The sections below list what is covered and what is not.
That’s where Cyber Liability Insurance comes in. This cover offers an extensive array of protections, encompassing data security breaches, business interruptions, resilience enhancements, and network security measures.
These provisions support you when your information security protocols encounter setbacks, whether stemming from a phishing attack, inadvertent data disclosure, or a ransom request.
What organisational assets are covered?
Breach Response: This includes access to forensic experts and legal guidance, swift notification of affected customers, and provisions for offering credit or identity fraud monitoring services.
Data, Website, and Software Damage: We provide cover for losses resulting from damage to data, websites, and software caused by cyber incidents.
Loss of Revenue: A malicious attack, extortion attempt or data breach can hit your IT systems or your outsourced IT/data provider. Our policy safeguards against the financial repercussions of revenue loss.
Mitigating Revenue Reduction: Additional expenses incurred to minimise revenue reduction, such as hiring extra staff or acquiring necessary equipment, are also covered.
Extortion: Our policy assists with recovery costs or ransom payments if hackers target your business and threaten to expose sensitive data until you pay a ransom.
Customer Notification Costs: We cover the costs associated with notifying customers about a data breach.
Losses Due to External Hacks: Cover extends to financial losses incurred due to external hacks into your IT network or Social Engineering fraud.
Unauthorised Telephone Charges: Costs stemming from unauthorised telephone calls and charges made by external hackers are included.
Data Protection Regulation Breaches: Where legally insurable, we offer protection against breaches of Data Protection Regulation, encompassing defence costs and regulatory fines.
What cover is there for third party liabilities?
Compensation and Defence Costs: Our policy covers compensation and defence costs if a claim arises against your business. That includes claims for negligently transmitting a virus, data privacy breaches, or financial losses due to the loss, disclosure, or destruction of third-party confidential commercial information.
Payment Card Industry Non-Compliance: Costs resulting from non-compliance with payment card industry data security standards are covered, including fines, charges, and recertification costs.
Multimedia Liability: Cover includes instances of copyright or trademark infringement through online media use, as well as defamatory comments made online. This extends to costs incurred in removing online content to prevent claims.
What policy exclusions are there?
Acts of Terrorism: Acts of terrorism are excluded, but cyber terrorism remains covered.
Employee Fraud/Dishonesty: Losses stemming from employee fraud or dishonesty are not covered.
Internet/Utility/Telecom Failure: Losses due to the failure of internet services, utilities, or telecommunications are excluded.
Professional Errors and Omissions: Errors or omissions in professional advice or services are not covered.
Intercompany Claims: Proceedings or claims brought by subsidiaries, parents, or associate companies are excluded.
Intellectual Property: Losses related to misappropriation of trade secrets, intellectual property royalties, or licence fees are not covered.
Fines and Statutory Payments: Any fines, regulatory or statutory payments, or criminal prosecutions are excluded unless legally insurable.
Please refer to the policy wording for a comprehensive list of exclusions.