Products

Cyber insurance

We offer two levels of protection.

 

Our Cyber Event Protection policy provides comprehensive cover, whereas our Cyber 1st Aid policy provides coverage for losses to your business, including some legal expenses, but does not include liability coverage or defence against third party claims.

 

Our Cyber Event Protection policy also gives you the option to extend coverage to contingent business interruption as well as cyber theft. Cyber 1st Aid does not offer this option.

 

A description of our Cyber Event Protection policy is given below.

 

Our Cyber 1st Aid policy covers the same cyber events, but not all the same costs. We have provided a comparison table that show which losses and expenses are covered under each policy.

Comprehensive cover for liability and expenses arising out of unauthorised access and use of data or software within your IT infrastructure.

 

Both our Cyber Event Protection and Cyber 1st Aid policies aim to get your business operating normally as soon as possible after a cyberattack or a data breach, covering:

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Point of Sale (POS) intrusions

Where retail transactions are conducted, specifically where card – present purchases are made.

Physical-Theft-and-Loss

Physical Theft and Loss

Any incident where an information asset went missing, whether through misplacement or malice.

Cyber-Extortion

Cyber Extortion

Crime involving an attack or threat of attack against your IT infrastructure , couple with demand for money to stop the attack.

Insider-and-Privilege-Misuse

Insider and Privilege Misuse

Any unapproved or malicious use of organisations resources. Mainly insider misuse or external (through collusion)

Miscellaneous-Errors

Miscellaneous Errors

People make mistakes! Unintentional actions directly compromised a security attribute of an information asset.

Web-App-Attacks-

Web App Attacks

This includes exploits of a code – level vulnerabilities in the application as well as thwarting authentication mechanisms.

Cyber-Espionage

Cyber Espionage

Unauthorised network or system access linked to state affiliated actors and / or exhibiting the motive of espionage.

Payment-Card-Skimmers

Payment Card Skimmers

Where a skimming device is physically implanted on an asset that reads magnetic stripe data from a payment card.

Denial-of-Service

Denial of Service

Intended to compromise the availability of networks and systems. Includes both network and application layer attacks.

Crimeware

Crimeware

A form of malware. Primary goal is to gain control of systems to steal credentials.

Our Cyber Event Protection policy provides comprehensive cover for the liability and expenses arising out of unauthorised access and use of data or software within an organisation’s IT infrastructure, including losses to others.

 

Our Cyber 1st Aid policy provides the same level of cover for losses to your business, but does not cover most losses to others. Optional extra cover is not available as part of the Cyber 1st Aid Policy.

 

Cyber Event Protection

  • Losses to your business – Costs and revenue replacement cover.
  • Loss to others – Sums you become liable to pay, including regulatory fines, penalties and litigation costs.
  • Cyber event response costs – Costs to respond to a cyber event, such as virus extraction, securing/ restoring your data and notification/ PR costs.

Optional covers

  • Contingent Business Interruption – Costs and revenue replacement if you suffer business interruption due a cyber event at a supplier’s business.
  • Cyber Theft – We pay the direct financial loss due to cyber theft or telephone phreaking.
  • Tangible Property – Physical damage to your IT infrastructure.

 

Cyber 1st Aid

  • Losses to your business – Costs and revenue replacement cover.
  • Cyber event response costs – Costs to respond to a cyber event, such as virus extraction, securing/ restoring your data and notification/ PR costs.
  • Legal expenses – Cost for you to obtain legal advice.
Feature Benefit
Business Interruption Policy provides coverage for a drop in revenue over prior periods as a result of a Cyber Event. Increased costs are covered as well, and indemnity periods are available up to 365 days.
3rd Party Liability and Multi Media Injury Policy defends and pays losses that the business is legally liable for. This includes judgments, settlements and awards for damages, regulatory and civil fines and penalties.
Policy provides coverage for cyber related Multi Media Injury in business communications, advertisements and promotions. Covers libel, slander, defamation, infringement of trademark, domain name or copyright, misappropriation of ideas, invasion of privacy or inadvertent disclosure of personal information.
Response Costs If the business suffers a Cyber Event, the policy covers:
  • restoring and replacing data or programs that have been damaged or destroyed
  • cost to mitigate further damage which includes the cost to purchase replacement licences if necessary
  • notification costs
  • credit and identity monitoring costs
  • external management costs such as public relations and communication management
  • legal and forensic costs
  • IT consultant costs
  • extortion costs
Optional Coverages You have the option to choose these further protections
Contingent Business Interruption If an external supplier suffers a cyber event that causes Business Interruption to the insured business, the policy covers the impact on the insured’s business costs.
Cyber Theft and Telephone Phreaking Cyber Theft covers stolen funds as a result of a cyber event. This includes both the business’s own funds as well as funds the business holds on behalf of their clients.
If the company’s telephone system is compromised due to a Cyber Event and the business receives a large, unexpected phone bill as a result, the policy will cover the direct financial loss.
Tangible Property Policy covers the replacement of the business’s IT infrastructure that’s been physical damaged due to a Cyber Event.

This protection is triggered by these Cyber Events

Coverage Cyber Event Protection Cyber 1st Aid
Crimeware
Cyber Espionage
Cyber Extortion
Denial of Service
Hacking
Insider and Privilege Misuse
Miscellaneous Errors
Payment Card Skimming
Physical Theft and Loss
Point of Sale Intrusion
Web App Attacks

This protection provides coverage for Losses to your Business

Coverage Cyber Event Protection Cyber 1st Aid
Business Interruption
Indemnity Period

Options from 30 days up to 365 days

15 days

This protection provides coverage for Losses to Others

Coverage Cyber Event Protection Cyber 1st Aid
Legal Expense
Settlements
Awards
Damages
Civil Fines and Penalties
Mandatory Notice
Multimedia Injury

This protection provides coverage for Response Costs

Coverage Cyber Event Protection Cyber 1st Aid
Credit and Identiy Monitoring
Customer Notification Costs
Extortion Costs
Data Restoration Costs
Data Securing Costs
External Management Costs
(Including Public Relations)
Virus Extraction

Optional Coverages

Coverage Cyber Event Protection Cyber 1st Aid
Contingent Business Interruption
Cyber Theft
Telephone Phreaking
Tangible Property

Limits

Cyber Event Protection Cyber Event Protection
$250,000 up to $10m
(Higher limits available on request)
$100,000