Cyber Risk & Data Protection Insurance Policies
Designed to protect first party and third party cyber exposures that arise when a company’s data and customer information is breached or stolen, Cyber Risk Insurance is becoming increasingly vital in today’s online world.
Companies with access to private, confidential information about their customers have a responsibility to keep it secure. Equally, companies who have a web presence or a dependency on technology have emerging content and online transactions exposures that can leave them open to cyber risk.
The most comprehensive cover is an individual policy that is designed to commonly cover:
First Party Claims
Cover includes your own costs associated with credit monitoring, cyber extortion, data restoration, forensic consultant, breach notifications, public relations and legal representation expenses.
Covers claims arising from reimbursement for lost profits and necessary expenses incurred to maintain business operations.
Third party claims
Covers costs relating to claims for compensation, investigations, fines and penalties (new privacy act), defence costs and legal representation expenses.