Cyber Insurance can provide cover for a range of financial, operational and liability exposures arising from cyber incidents.

The exact cover varies between insurers.

Incident response and data breaches #

Policies can provide access to specialist services following a cyber incident, including:

• Forensic IT specialists
• Cyber incident response teams
• Specialist legal advisers
• Data breach response services
• Crisis communications

Cover can also include certain costs associated with investigating and responding to a data breach, such as notification costs, legal advice, credit monitoring, regulatory response costs and third-party privacy claims.

Business interruption, extortion and cybercrime #

Some Cyber policies provide cover for loss of income and additional costs following an insured interruption to computer systems. Waiting periods, indemnity periods and coverage triggers vary.

Policies can also include certain response costs associated with ransomware or cyber extortion incidents. Any payment or reimbursement is subject to the policy terms, applicable law and insurer approval.

Depending on the policy, cybercrime cover can be available for certain losses arising from:

• Business email compromise
• Invoice Fraud
• Social Engineering
• Funds transfer fraud

These sections often carry specific sub-limits and conditions.

Data and systems restoration #

Cover may be available for the reasonable cost of restoring data or systems following an insured incident.

Third-party liability and regulatory matters #

Cyber Insurance can respond to certain claims made against the business arising from privacy breaches or failure to protect information.

Some policies can also provide cover for certain regulatory investigation or defence costs. Fines and penalties should not automatically be assumed to be insurable.

All sections remain subject to policy terms, limits, sub-limits, excesses and exclusions.

Contact our team if you would like help comparing Cyber Insurance cover.