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Cyber & Data Security Insurance Policy
Cover

Provides response and cover for costs incurred in the event of a cyber incident. Includes expenses incurred arising out of a Ransomware Attack, Cyber Scams and Restoration services.

Cyber, data security and multimedia cover

Liability arising out of multimedia exposures as a result of a hacker.

Liability arising from the failure to properly handle, manage, store, destroy or otherwise control personally identifiable information.

Liability arising out of unintentional transmission of a computer virus.

Liability arising out of a hacker’s fraudulent use of information.

The costs of any financial benefit that has been transferred to a third party that cannot be recouped and has occurred as a result of a covered loss.

The costs to withdraw or alter data or images or other website content as a result of a court order or to mitigate a claim.

The costs to replace or restore documents discovered by the insured to be lost, damaged or destroyed.

Compensation costs arising as a result of directors, partners and employees attending court in connection with a covered claim.

Defence cost

Regulatory defence and penalty costs cover

Payment for those amounts which the insured is legally obliged to pay (including legal and defence costs) as a result of a civil regulatory action, regulatory compensatory award, civil penalty or fines to the extent insurable by law, imposed by a government or public authority regulator.

Credit monitoring costs cover

Payment for credit monitoring services in order to comply with data breach law.

Cyber business interruption cover

Payment for loss of business income, as a result of the total or partial interruption, degradation in service, or failure of information and communication assets following a failure by the insured or a service provider to protect against unauthorized access to, unauthorized ise of, a denial of service attack against, or transmission of a computer virus to, information and communication assets.

Data breach notification costs cover

The provision of consumer notifications to comply with data breach law following a data breach.

The legal fees incurred to identify notification communication obligations and draft notification communications.

The costs to send out and administer notification communications.

The costs of call centre services to respond to enquires and queries following notification communication.

Information and communication asset rectification costs cover

The costs to repair, restore or replace the affected parts of the insured’s information and communication assets after they were damaged, destroyed, altered, corrupted, copied, stolen or misused by a hacker.

Public relations costs cover

Payment for all reasonable costs the insured incurs for a public relations and crisis management consultants to avert or mitigate any material damage to any of the insured’s brands and business operations.

Cyber extortion cover

Payment for reasonable and necessary expenses incurred by the insured including the value of any ransom paid by the insured for the purpose of terminating a cyber extortion threat.

Forensics costs cover

Payment for a forensics consultant to establish the identity or methods of the hacker or other details required by the insurer following a data breach.

Payment for a security specialist to assess the insured’s electronic security and the costs of reasonable security improvement.

Payment for the temporary storage od the insured’s electronic data at a third-party host location, if it is viewed that the insured’s information and communication assets remain vulnerable to damage, destruction, alteration, corruption, copying, stealing or misuse by a hacker.