Businesses of any size can be a target for cyber crime, with small businesses being particularly vulnerable. That's why it is important to safeguard your digital assets and the private information of your business and clients with the right Cyber Insurance cover.
There are two main policy types / extensions we recommend to businesses and organisations looking to arrange Cyber Insurance.
Cyber Crime Insurance
Cyber criminals are becoming increasingly sophisticated, using tactics such as social engineering fraud, phishing, phreaking or other forms of cyber fraud to steal money, company or client data from businesses.
What does Cyber Crime Insurance Cover?
A typical Cyber Crime Policy (or Cyber Crime Policy extension) will provide cover for theft of Money as a result of a Cyber Crime event, for example social engineering fraud, phishing, phreaking or other forms of cyber fraud involving loss of money.
What are the policy limits?
Limits available are generally up to $250,000. Limits above this will typically require a more comprehensive risk analysis and underwriting assessment.
Request a QuoteCyber Liability and Privacy Protection Insurance
As technology advances and more businesses have an online prescence, Cyber Liability is fast becoming a real threat to any business. Inappropriate or illegal release of personal information such as customer or employee records, patient information and credit card details into a public domain can cause real damage to your business.
If a breach of sensitive information happens to your business, it will not only affect you financially but can threaten your intellectual property, client trust and reputation.
What does Cyber Liability and Privacy Protection Insurance Cover?
A typical Cyber Liability and Privacy Protection Policy will provide cover for:
- First Party (own) costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurers policy wording.
- Fines and penalties incurred as a result of a Cyber event, or breach of Privacy, as defined by the Insurers policy wording.
- Business Interruption/Consequential Loss (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurers policy wording.
- Third Party costs and expenses (excluding theft of Money) as a result of a Cyber event, or breach of Privacy as defined by the Insurers policy wording.
What are the policy limits?
Limits available are generally up to $10,000,000. Limits above this will typically require a more comprehensive risk analysis and underwriting assessment.
Request a QuoteHow Coverforce can help
Our experienced insurance brokers assess your business' individual cyber insurance needs and come back to you with the best value insurance solution available from our extensive insurer network.
In the event of a claim, we work with the insurer on your behalf to ensure you get the full entitlement due under your cover.
For more information or an obligation free quote, please contact our specialised team at your local Coverforce Office.
Alternatively, you can simply fill out a Quote Form and one of our insurance brokers will get in touch with you within one business day.
