Cyber Insurance

Cyber Liability Insurance

When a UK-domiciled organisation with a turnover under £20m achieves self-assessed certification covering their whole organisation to either the basic level of Cyber Essentials or the IASME Standard, they are entitled to Cyber Liability Insurance, terms apply.

It can be briefly described as follows:

£25,000 Total Limit of Indemnity

24 Hour Helpline

What's Covered?

Liability: claims made against you arising out of media activities and privacy and security wrongful acts.

Event Management: costs, including emergency costs, following a data breach, including the costs of notifying data subjects. These might typically include payment for Legal, IT, Forensic & PR specialists.

Extortion Demands: ransoms and other cyber extortion.

Regulatory Investigations: defence costs & regulatory fines (where insurable by law).

Business Interruption: Loss of profit and / or operational expenses caused by a network compromise.

Loss of Electronic Data: costs of remedying the issue that allowed the loss or damage to your data and costs to replace, restore or update your data.

What's Not Covered?

Money stolen by electronic means or cyber fraud.

The £25,000 limit of indemnity might be sufficient for a small breach or incident but inadequate for a serious problem or more than one incident. Higher limits of indemnity are available.

There is a £1,000 excess (increasing to £5,000 for claims emanating from activities in the USA or Canada) and a six hour Business Interruption excess.

Full details of what is and is not covered can be found in your Policy wording, or in brief in the Policy Summary.

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