Hotline Call Centre: 1500 674 (MSI)Cyber Insurance
This insurance policy provides coverage for liabilities arising from data and information protection, including investigation, extortion, and cybercrime-related incidents.
Key features
Cyber protection
Protection against losses arising from cyber incidents, covering the insured’s necessary expenses, business interruption, and third-party liability, including defense costs.
Plan highlights
Provides coverage for various costs related to data and information protection, including investigation costs, incident response costs, restoration costs, cyber extortion expenses, and regulatory liability.
This coverage can be extended to include operational errors, media liability, reputational interruption loss, and cyber crime.
Some exclusions under the policy include: asbestos, bodily injury, contractual liability, discrimination, and dishonest acts.
Plan details
Coverage
- IT Forensic Investigation Costs
Covers the costs of external IT security experts. This includes legal counsel fees for appointing, overseeing, and guiding the external IT security specialists. - Privacy Response Costs
Covers expenses incurred as a result of a Privacy Breach. - Data Recovery Costs
Covers costs on behalf of the Insured if data is corrupted, deleted, encrypted, damaged, or destroyed. Includes costs for recovery, restoration, input, configuration, or replacement. - Business Interruption Loss
Covers losses incurred when the Insured is unable to use data assets for business activities. - Liability
Covers legally required payments on behalf of the Insured for third-party data asset damage caused by Breach of Confidentiality, Privacy Breach, or Security Breach. - Extortion Loss
Covers losses arising from threats involving disclosure of confidential information, damage to data assets, or disruption of computer system availability. - Regulatory Fines & Expenses
Covers regulatory penalties and related regulatory costs resulting from a Privacy Breach.
Optional Coverage Extensions
- Business Interruption & Recovery Costs Due to Operational Error
Covers damage to data assets and computer systems caused by unintentional employee errors. - Media Liability
Covers losses and claim expenses resulting from alleged content violations. - Personal Information Breach
Covers compensation and expenses arising from a personal information breach. - Payment Card Industry (PCI) Liability
Covers payments arising from payment card data breaches.
(Applicable only to Insureds who process or store payment card information.) - Reputational Harm Loss
Provides compensation for business interruption losses directly and solely caused by brand/reputation damage. - Cyber Crime
Covers direct financial loss resulting from the transfer of funds due to:
– Reliance on unauthorized, dishonest, or illegal instructions inserted into the computer system or data assets;
– Access to the computer system or data assets obtained through a security breach.
- Asbestos
- Bodily Injury
- Contractual Liability
- Discrimination
- Dishonest Acts
- Others as specified in the terms of the Policy
