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Cyber Insurance Overview

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First Party Coverage

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First party coverage in cyber insurance refers to the protection against the direct losses that an organization incurs due to a cyber event.

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Third Party Coverage

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Third party coverage offers protection against claims by other parties that have been affected by a cyber event for which the policyholder is held responsible.

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Cyber Extortion

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Cyber extortion coverage protects a business from losses related to threats of intentional disruption or damage, such as ransomware attacks.

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Data Breach Response

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Data breach response coverage assists with the expenses related to managing and mitigating a data breach, such as notification costs and credit monitoring services.

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Business Interruption Losses

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This coverage compensates for the income lost and additional expenses incurred when business operations are disrupted due to a cyber event.

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Network Security Liability

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Network security liability protects against legal claims due to failing to prevent security breaches that result in damage to third party systems or data.

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Regulatory Defence Expenses

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Coverage for expenses associated with legal proceedings and fines imposed by regulatory bodies following a cyber-related regulation violation.

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Cyber Terrorism

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Cyber terrorism coverage offers protection against damages resulting from attacks on networks or data by politically motivated groups.

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Technology E&O (Errors and Omissions)

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Technology E&O covers claims of negligence or insufficient service from technology services or products provided by the insured entity.

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Reputational Harm Coverage

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This coverage addresses financial losses resulting from damage to a company's reputation due to a cyber event.

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