What is Cyber Insurance?
As businesses increasingly operate online, the risk of cyber-attacks has significantly risen. These attacks include various threats, from malware infections on work computers to unauthorised network access leading to data breaches and theft.
Cyber Insurance could provide cover for liability actions that may be taken against you as a result of a cyber event (third-party loss). This includes costs associated with investigations and defence, civil damages, and compensation payments to affected parties.
What is included in Cyber Insurance
- Investigating a cybercrime
- Recovering data lost in a security breach
- The restoration of computer systems
- Reputation management
- Notification costs - to notify third parties affected.
- Business Interruption
- Defence costs