Cyber Insurance
Standard key coverage features
Austbrokers Premier, in conjunction with COSBOA and Epsilon Underwriting are pleased to offer COSBOA members a special Cyber Insurance policy.
Cyber Insurance is suitable for nearly all clients in most Industry sectors. Coverage provides peace of mind and a solution to the emerging threats of the digital age.
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Breach of Personal Data
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Business Interruption
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Hacker Damage
Your loss arising where you discover or suspect a breach has occurred. We shall cover:
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Breach forensic costs;
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Legal fees incurred by you to manage the response to the breach;
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Costs you incur to notify each affected data subject of the breach;
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Costs you incur in notifying any regulatory body, including the Information
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Commissioner’s - Officer of the breach where you are required to do so by law or regulation;
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Costs you incur to use a third party call centre to answer enquires from affected data subjects, following notification of the breach to such data subjects; and
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Credit monitoring costs.
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Cyber Extortion
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Privacy Infringement Claims
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Defence Costs and Expenses
Loss of income and increase cost of working resulting solely and directly from an interruption to your business due to:
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the activities of a third-party who specifically targets you by maliciously blocking electronically the access to your computer system, programmes or data you hold electronically; or
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a hacker who targets you.
Your loss caused by a hacker:
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damaging, destroying, altering, corrupting, or misusing your computer system, programmes or data you hold electronically, or any programmes or data for which you are responsible;
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copying or stealing any programme or data you hold electronically or for which you are responsible;
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replacing or repairing your computer system, programmes or data you hold electronically to the same standard and with the same contents before it was damaged, destroyed, altered, corrupted, copied, stolen or misused.
Third party claims against you for your actual or alleged:
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breach, violation or infringement of any right to privacy, consumer data protection law, or other legal protection for personal data;
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breach of duty to maintain the security or confidentiality of personal data;
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breach of any duty of confidence, including in respect of any commercial information; or
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breach of any contractual duty to maintain the security or confidentiality of personal data; or
Privacy Investigation;
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the amount agreed by you and us through good faith negotiation, mediation or some other form of alternative dispute resolution to settle a claim or the amount to satisfy a judgment or arbitration award against you;
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any regulatory award; and
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privacy forensic costs, privacy investigation costs and defence costs.
Defence costs and expenses, privacy forensic costs, privacy investigation costs and credit monitoring costs which are included within the limit of indemnity.
The cost of:
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a ransom demand from illegal threat;
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fees of appointed consultant;
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the amount of any stolen ransom, where such theft occurs at or in transit to the agreed location for payment of the ransom.
Privacy Breach: Third party claims for loss of personal information
System Damage: Lost damage or destroyed IT systems, data, records
Computer Virus/Hacking: Liability arising from hack or attack, theft of data including by employees
Multimedia Liability: Liable, slander, defamation defence costs and third party costs, marketing material
Breach of E-Commerce Statutory Duties: Statutory breaches of managing e-commerce data
Extortion: Payment of ransom, negotiation/mediation of security threat, crisis management
Business Interruption: Lost business income up to $10,000
Also: Privacy fines, investigation, reward cover
