What does Cyber Insurance cover?

If you’re a victim of a cyber crime, a Cyber policy allows you to claim for the cost of professional investigations, in order to identify who is responsible.

If your business suffers a cyber attack and your data is held to ransom, Cyber Insurance will cover the cost of the demand, as well as investigation costs.

If your systems and equipment are damaged as a result of a cyber attack, insurance can help you get back on your feet, covering the cost of repair or replacement.

There may be costs involved with notifying those affected by a data breach or cyber crime, as well as the time costs involved in the notification process to the Information Commissioner’s Office (ICO). Cyber Liability Insurance helps your business to cover those costs.

If you lose data, either as a result of a malicious attack or an accident, Cyber Liability Insurance can help you to cover the cost of recovery.

If you accidentally breach GDPR legislation, for instance by getting in touch with someone you don’t have permission to contact, insurance can cover investigation costs and fines.

As part of your policy, you’ll get support to help manage public relations following a breach, helping your business to communicate what happened and the steps you are taking to remedy the situation.

If your business is unable to operate as a result of an insured event, Business Interruption Insurance covers loss of income while you get back on your feet.