Cyber policies can provide cover for:  

Privacy

Your liability following loss of personal or commercially confidential information lost, damaged or destroyed data, as well as defence costs.

System damage

The costs required to restore or replace lost, damaged or destroyed computer records and the costs of retrieving, repairing, restoring or replacing computer systems following a cyber event including for example a hacking attack or virus, malicious damage or operational error.

Computer virus, transmission and hacking

Your liability to any third party that suffers financial losses from hacker attacks, or viruses that come from or pass through your computer system, as well as defence costs.

Multimedia liability

Your liability as a result of any invasion or interference with privacy or infringement of copyright, trademarks or trade names arising from your internet or email content, promotional material or digital content downloaded, shared or distributed from your computer system, as well as defence costs.

Extortion

Payment of ransom or costs associated with negotiating a cyber extortion attempt (please note, payment of cyber extortion costs is subject to local legal requirements and cooperation with appropriate authorities).

Privacy breach notification and loss mitigation

Costs incurred in respect of a breach of privacy obligations following a cyber event, for example call centre support, credit monitoring, independent audit costs.

Privacy fines and investigations

Fines or penalties you incur due to a privacy breach as well as defence costs or regulatory investigation defence costs.

Business interruption

Loss of profits suffered if your business is disrupted due to a cyber event.

Computer crime

Loss due to transferring or paying funds in error as a result of a fraud in connection with either your own or another party’s computer system, including a fraud perpetrated by a rogue employee.

Brand and personal reputation protection

Public relations consultancy costs to protect your brand and reputation including the reputation of any of your directors or officers following a claim or cyber event covered by the policy.

Breach of Statutory Duties relating to e-commerce

Your liability as a result of a breach of any statutory duty relating to the security or management of information in the course of e-commerce.

Social Engineering Fraud Phishing

Phreaking and Fake Invoice losses are an increasing global trend in cyber-crime. Protect your business from these types of fraudulent losses with this additional cover.

Please note this is only a summary of the benefits, they are subject to exclusions and limitations. Please see the full policy wording for full details.