Cyber insurance offers coverage against a suite of first party and third-party risks.
Cyber liability insurance is essential for all businesses in the digital age. A typical policy covers;
First party exposures can include:
• Loss or damage to digital assets
• Non-physical business interruption and extra expense
• Network interruption
• Cyber extortion
• Crisis management and reputational costs
• Reputational damage
• Social engineering and Fund transfer fraud
Examples of third party exposures:
• Security and privacy liability
• Privacy regulation defence costs
• Insurable fines and penalties
• Notification expenses
• Multi-media liability (IPR infringement. defamation, breach of privacy)
