Sometimes another insurance policy can contain limited cyber-related cover, but businesses should not assume they already have the equivalent of a standalone Cyber Insurance policy.

Where can cyber-related cover appear? #

A Business Insurance policy may contain limited extensions relating to electronic equipment, data or crime. That does not necessarily provide the incident response, business interruption, privacy liability or cybercrime protection available under a dedicated Cyber policy.

Some Professional Indemnity Insurance policies can respond to certain claims involving technology, privacy or professional services. However, Professional Indemnity is primarily designed around liability arising from professional services and should not automatically be treated as a substitute for Cyber Insurance.

Management Liability or Crime cover may also provide limited protection for particular fraud or employee dishonesty exposures. Again, the coverage and triggers can be very different from Cyber Insurance.

Why consider separate Cyber Insurance? #

A standalone Cyber policy can combine several areas of cover, such as:

• Cyber incident response
• Data breach costs
• Forensic IT support
• Business interruption
• Cyber extortion
• Privacy liability
• Cybercrime
• Crisis communications

The exact cover depends on the insurer and wording.

Contact our team if you would like us to check whether your existing policies contain any cyber-related cover.