What does Cyber Insurance policy cover?
Hardware
– cover against loss, theft, damage, cyber events and breakdown to hardware (including portables worldwide).
Data corruption and extra cost
– cover to restore computer systems to the position they were in prior to a cyber event, including damage to hardware and costs incurred due to prevention of access resulting from a cyber event. Cover also applies to the computer systems of the insured’s service providers.
Cyber crime
– cover for financial loss resulting from fraudulent input or change in data into insured computer systems leading to dishonest money and credit transactions.
Cyber liability
– cover to pay for damages and defence costs from claims made against the insured for failure to secure data, unintentional transmission of a virus and reputational damage from website, email or distributed content.
Data-breach expense
– cover to pay for the costs of investigating a data breach and notifying customers, legal advice, public relations and crisis management expertise, identity theft assistance for insured’s customers or others affected and a security audit to identify weaknesses in computer systems.
Cyber event
– loss of business income – cover for loss of income following a cyber event or prevention of access.