Internet Liability insurance is increasingly relevant to every person or business who uses any form of electronic communication or data transfer – or simply has a presence on the ‘World Wide Web’.
Cyber Liability Insurance is important for every person or business that relies in any way on any form of electronic network, internal and external, for
- Communications (voice, written and video),
- data processing,
- data storage (own data and third party data)
- On line Transactions (contractual and monetary)
- Any on-line interface (passive and interactive)
Internet Liability Insurance can include:
- Defamation – Insuring against Libel, Slander and Disparagement
- Fraudulent Acts – Insuring against damages payable following the fraudulent use of data subsequently relied upon in good faith by a third party.
- Media & Content – including liabilities for user generated content
- Professional Service Failure – including professional negligence, error or omission and breach of contract
Cyber Insurance can include:
- Brand Protection and Recovery – including Public Relations costs following a cyber-attack and loss of data
- Business Interruption – providing much needed cash-flow following down-time of (or access to) your own systems.
- Cyber Liabilities – including 3rd party losses following the hacking of your systems and the distribution of viruses from your systems
- Denial of Access – including 3rd party losses following the down-time of your systems following a hacking/ransom event
- Notification Costs – covering the cost of your obligations to notify third parties of actual or potential loss of data/personal data
- Privacy Breach – to cover the costs incurred following the loss of personal data
- Security Costs – including IT forensics, data monitoring costs and data extortion.