Introduction
From the smallest company to the largest multinational organization, they all have already received some form of cyber attack. No matter how well the protective measures are taken, it is not a question of whether someone has become a victim of a cyber attack, but when this will happen. The solution is no other than a Cyber Insurance policy.
The policy covers
Businesses from cyber risks.
The policy is addressed
To all organizations and businesses that own, use, manage and depend on electronic data, records and information.
The policy can also be part (added) to the following policies:
Business Package All Risk
Pharmacy Package All Risk
Chemist Lab Package All Risk
Covers
This insurance policy provides the following covers for the Insured that will be raised, for the first time, and announced to the Insurer, within the Insurance Period:
Dealing with a Breach
Indemnifying the Insured for Breach Response Expenses incurred by the Insured from an actual or reasonably suspected Data Security Breach or Security Breach.
Loss due to business interruption
Loss suffered by the Insured due to business interruption as a result of a Data Breach.
Loss due to cyber extortion
Loss suffered by the Insured due to Threat of Extortion.
Data Recovery Charges
Data Recovery Expenses incurred by the Insured as a direct result of a Security Breach.
Data & Network Responsibility
Expenses of compensation and claims, which the Insured is obliged by law to pay and concerns a Claim due to:
Data Security Breach
Breach of Security
Failure of the Insured to timely disclose a Data Security Breach or Security Breach
Failure of the Insured to comply with part of a Privacy Policy
Defense of Regulatory Proceedings & Fines
To pay Claim Expenses that the Insured is legally bound to pay, following a Regulatory Authority proceeding first brought against the Insured during the Insured Period for a Data Security Breach or Security Breach.
Payment Card Liabilities and Charges
To indemnify the Insured for PCI fines and costs which they are legally obliged to pay due to a claim made for the first time against any Insured during the Period of Insurance.
Multimedia Liability
To pay Indemnities and Claim Expenses that the Insured is legally bound to pay due to any Claim first made against the Insured during the Multimedia Liability Insurance Period.
Clarification
The above information may differ from one Insurance Company to another. Depending on the insurance policy that will be proposed to you, you will get all the relevant information you need, so that you can decide on your own choice. Request our offer today. Based on your own insurance needs and budget, we will choose the right insurance for you.