Cyber Insurance

After a cyber-attack, organisations need a range of services to get their business back on track. CyberEdge®’s Event Management pays for Legal, IT, PR services, Credit and ID Monitoring in addition to Data Restoration and Breach Notification costs. When an event occurs, having the correct expertise on hand can result in dramatically improved outcomes – especially when underpinned by First Response.

Our Security and Privacy Liability module responds to third-party liabilities resulting from breaches of confidential information, security failure, failure to notify the regulator and breaches of PCI compliance. This is more important than ever in the wake of the GDPR.

Ransomware is an increasingly prevalent cyber threat facing businesses. CyberEdge® covers an extensive range of specialist services to combat the use of ransomware for cyber extortion – from conducting investigations to validating a threat to containment, negotiations and payments.

Network Interruption provides coverage for the loss of income, mitigation expenses and forensic accountant costs associated with containing a cyber incident that interrupts business operations. This coverage extends to various cyber risks, including cyber-security breaches, system failures and voluntary shutdowns.

In today’s digital environment, it’s easier than ever to inadvertently infringe on trademarks, misappropriate creative material, or inadequately check facts. Our Digital Media coverage addresses these risks by protecting the cost of damages and defence related to breaches of third-party intellectual property or negligence of electronic content.

Businesses are prone to phone hacking, commonly known as PBX dial-through fraud, whereby attackers targeting telephone systems place calls to premium rate numbers. CyberEdge's Telephone Hacking coverage protects against charges resulting from unauthorised access and use of a business's telephone system, regardless of whether the hacking is initiated on or off their premises.

Fund transfer fraud is a type of computer crime where criminals leverage information from a cybersecurity breach and transfer funds from a financial account. With CyberEdge's Computer Crime extension, businesses are safeguarded against this type of fraudulent financial loss.

A Criminal Reward Fund may be offered to those who provide information that leads to the arrest and conviction of those attempting to commit illegal acts covered under a CyberEdge policy. This relates not only to hackers and cyber criminals, but includes rogue employees, thus rewarding vigilant staff members who identify and report suspicious behaviour.