CYBER RISK

50 years with you

What is Cyber Risk Insurance?

It covers the financial consequences of cyber threats and offers protection to businesses.

Cyber-attacks (hacker attacks) are developing into the biggest threat that can concern a business, since the way of attacks worldwide now takes the most unpredictable forms.

The financial losses that businesses and organizations suffer on a daily basis are increasing geometrically.

Complete blocking of the IT system, loss of business data, fake payment instructions, business interruption, lawsuits by third parties for data disclosure and fines from GDPR supervision, data theft by former or even current employees, are some of the potential risks that everyone now faces.

Comprehensive protection consists of:

A. The ‘x-ray’ of the computerized system, the marking of the weak points, and suggestions for shielding it.

B. Cyber ​​Risk Insurance coverage, the only method to protect against the significant financial losses that a business can suffer due to a cyber attack.

Main insurance coverages

Civil Liability against Third Parties who suffered damage due to the loss of their personal data by the company to which they had given it.

Crisis Management

  • Services and provision of consulting services.
  • Technical analysis and evidence-finding after a data breach or breach.
  • Notification of Third Parties and Data Protection Authorities.
  • Reputation Protection.

Data and Software Recovery: Costs and expenses to recover the Data and Software to their previous working condition are covered.

Business Interruption: Covers loss of profits due to business interruption due to incidents of breach and loss of confidential information.

Cyber ​​extortion: Coverage to manage extortion incidents that may occur due to the publication of confidential information or a breach incident.

Administrative Fines for Personal Data Protection

Additional coverages

  1. Ransom coverage.
  2. Covering of managers.
  3. Loss of trade secrets.

Why Get a Cyber Insurance Business?

  • Data is a valuable business asset that is not insured by traditional insurance companies.
  • The cost of downtime due to a cyber attack is not covered by traditional insurance policies.
  • Mobile devices used by business executives increase the risk of data loss.
  • The use of social media by company personnel creates liability for it.