Losses caused by cyberattack and resulting from business interruption, data loss and recovery, incident response;
Investigation into any incident as well as any cybercrime motivated by the financial gain (fraudsters)
- Main coverage:
Response to cyber incident.
It covers expenses incurred to pay for the services of cyber security experts involved for prompt response, interfering and discontinuing the cyberattack.
- Business interruption and income loss (downtime in some business processes; full stoppage of business)
Indemnification for the lost profits resulting from disruption to the operation of IT system and website due to the cyberattack. The amount of such profit is estimated based on the data about company’s turnover for previous years as well as the plan for the current period.
- Cyber extortion
Indemnification for the amount of ransom paid to cryptolockers for decrypting blocked company’s information as well as due to threats related to destruction / damage of IT infrastructure and data.
- Third-party liability (identity theft)
Indemnification for the losses caused to third parties as the result of cyberattack carried out on the insured, in accordance with their requirements and/or court rulings.
- Social engineering (phishing)
Covers the loss of Insured’s funds and assets resulting from and by using social computer engineering technologies
- Additional coverage:
- Investigation into the incident (which amount of data is lost, cause of attack etc.);
- Crisis communication (third-party services for bleaching the reputation);
- Expenses for data recovery (for example, there is no data backup and the information is only in hard copy, expenses for involving the specialist for entering information into database);
- Coverage for fine sanctions imposed by public authorities (due to the cyber incident, the Client failed to submit reports in time etc.);
What is the information required for assessing the risk?
- We send a questionnaire for filling out (main information: company’s turnover, amount of personal data, 5 large contracts indicating the scope of partners’ activities (telecom / banking / energy etc.);
- Required limit of liability (minimum USD 1 mln);
- Required coverage (modeled based on the Client’s needs).