Cyber and Data Insurance

Cyber and data insurance is designed to support and protect you from evolving e-risks. It provides comprehensive cover for your computer systems and data, whether electronic or non-electronic. The insurance can provide cover for claims made against you during the period of insurance arising from your cyber or data liability, up to the limit of indemnity shown in the schedule, and can also include your legal defence costs incurred if this option is selected.  The insurance can provide cover for your own losses arising from cyber or data incidents occurring during the period of insurance, up to the limit of indemnity shown in the schedule.

You can choose which risks you are protected against; for example:

1. Breach costs

Which are losses incurred by you if you suffer from the unauthorised access, use or disclosure of personal data, these can include:

• the costs of outside computer forensic analysis to confirm the breach;
• legal costs incurred in managing the breach;
• costs incurred in notifying data subjects and any regulatory body, if required;
• credit monitoring costs, where required.

2. Cyber business interruption

If your business suffers from an interruption as a result of a cyber-attack from a third-party or a hacker, the cover can include:

• your loss of income, including where caused by damage to your reputation;
• increased costs of working.

3. Hacker damage

If you discover that you have been the subject of a hack, the cover can cover the loss caused by:

• damage to, corruption or misuse of your computer systems or programs;
• copying or stealing of your programs or data held electronically.

4. Cyber extortion

If you receive a threat from a third-party to damage your computer systems or disseminate commercially sensitive information, following unauthorised electronic access to your systems, the cover can include:

• the cost of any ransom demand;
• the value of any good or services surrendered.

5. Privacy protection

If a claim is made against you for breach of personal data or sensitive commercial information, the cover can include:

• compensation payable as a result of the breach;
• the amount of any regulatory award against you, where legally insurable;
• any PCI charges for which you become liable as a result of the breach;
• the costs incurred in defending a regulatory investigation or prosecution;
• the costs of outside computer forensic analysis to confirm the breach.

6. Media liability

If a claim is made against you arising from the content of your email, website or other electronic communications as a result of alterations made by a hacker, the insurance can cover compensation and defence costs where the claim is for:

• infringement of intellectual property rights;
• defamation;
• negligent transmission of a virus.

If you want to know more on what you are covered by with Cyber and Data Insurance, call Baslow Insurance on 01629 813897