Cyber& Privacy Protection Insurance is an insurance product used to protect businesses and individual users from internet - based risk, and more generally from risks relating to Information Technology infrastructure and activities.
This type of risk is growing rapidly in Australia and many small, medium and large organisations have already experienced losses which can be mitigated with this type of cover.
Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products. Coverage provided by cyber-insurance policies may include:
- first-party coverage against losses such as data destruction
- hacking ann denial of service attacks
- liability coverage indemnifying companies for losses to others caused, for example, by errors and omissions
- failure to safeguard data, or defamation; and other benefits including regular security-audit
- post-incident public relations and investigative expenses
- criminal reward funds.
Insurance2U Advisers are here to help with this type of insurance. call today on 1300 300 561