Cyber Security Insurance
Cyber Security Insurance, also known as Cyber Insurance or Cyber Liability Insurance, protects businesses and organizations against financial losses resulting from cyber-attacks, data breaches, and other cyber security incidents. Provides coverage for various expenses associated with cyber incidents, including data breach response, legal defense costs, regulatory fines, and damages to affected parties.
Add-On
Business Interruption Insurance - Coverage for financial losses resulting from disruptions to business operations caused by cyber-attacks or IT system failure.
Cyber Crime Insurance - Coverage for financial losses resulting from cyber crimes such as fraudulent wire transfers, social engineering scams, funds transfer fraud or invoice manipulation.
Reputation Management - Coverage for expenses related to reputation damage control and public relations efforts following a cyber security incident, including crisis management, media monitoring, and brand rehabilitation.
Cyber Risk Assessment Services - Access to cyber risk assessment tools, vulnerability scans, penetration testing, and security audits to help organizations identify and mitigate potential security weaknesses and vulnerabilities proactively.
Exclusions
1. Damages resulting from intentional or malicious acts by the insured or authorized employees, such as insider threats or employee sabotage.
2. Damages resulting from acts of war, terrorism, political violence, or state-sponsored cyber attacks.
3. Damages resulting from the organization’s failure to implement and maintain adequate cyber security measures, such as failure to apply security patches or updates.
4. Damages resulting from the use of unauthorized or unapproved software, applications, or IT systems.