Cyber Insurance

With recent data breaches hitting the headlines in Asia and New Zealand, loss of personal and corporate data has far-reaching implications for a company, its customers, and its employees.  Most high-profile stories in the media today address the type of data loss that impacts people on a personal level: credit card numbers, medical records, birth dates, ID/passport numbers and other private personal information. 

The impact from the loss of corporate data and information such as intellectual property and proprietary information is significant, and in the hands of a competitor or a criminal could severely disadvantage business.

CyberEdge is an innovative, specialist solution which addresses liabilities arising from data protection laws, the management of personal data and the consequences of losing corporate information.

Data liability: covers the financial consequences of losing or misappropriating customer or employee data.

Business/Network Interruption (optional): Covers the loss of net profit due to an interruption to the customer’s network following a cyber breach.  

Electronic data: covers the cost of restoring, recollecting or recreating data after a leak or breach.

Fines and investigations: covers the potentially significant costs and expenses of a data protection regulator’s investigation and fines following data security breaches.

Crisis management and breach coaching: A CyberEdge policy provides access to a cyber-incident response team from industry specialists and covers the PR costs of reducing the damage it could cause to your reputation. Includes forensic services following a data breach; assistance to repair company and individual reputations; breach coaching and associated notification costs

Multimedia Liability (optional): covers the damages and defence costs incurred in connection with a breach of third party intellectual property, or negligence in connection with electronic content.

Cyber/Privacy Extortion (optional): covers any ransom payments to third parties required to end an extortion threat.

Today, almost every business is dependent on their critical data, and face significant potential losses through compensation, fines, or business interruption should that data enter the public domain.

CyberEdge should be considered by any company that handles data or private corporate information, whether it be identity card numbers and corresponding profiles of employees, credit card information, sensitive demographic information about customers, information on budgets, customer lists, share prospectus or marketing plans.