Cyber Liability Insurance

Typical Cyber Liability Insurance provides cover for:

• First Party cover - Protection against damage to the insured’s website from an intentional virus attack that causes damage to the network, computer programme, or any data
• Third-Party cover - Error and omissions, infringement of property rights, defamation, right of privacy and the transmission of a virus

How cyber liability arises with respect to data:

• The computer industry is rapidly changing with the increasing use of sophisticated technology
• Customer awareness of data-related issues has increased and is fueled by headline media attention and litigation
• Data breaches affect hundreds of millions of records a year, and reports of violations continue to rise

Who needs Cyber Insurance?

Companies that host, store, share or transmit proprietary and confidential data should consider cyber liability insurance. Also, companies that transact business and generate revenue online and publish online content can consider cyber insurance.