Cyber Risks range from loss of information on a single laptop, to the threats posed by cloud computing. Businesses may also face issues regarding denial of service or defacement and disruption to their web presence. Risks are evolving and becoming more complex at a rapid pace. Where organisations have in the past invested in security and protection for their physical assets, consideration now needs to focus on network and system safeguards. To help businesses manage these risks, a number of leading insurers have created innovative products designed to counter some of the potentially far-reaching consequences of data leaks and breaches.
Cyber Liability Insurance can help mitigate not only the potential financial impact of a data leak, loss or network security breach, but also the reputational impact and the IT impact by combining traditional liability insurance cover with professional PR consultancy assistance and IT assistance. Cyber Liability comprehensive cover includes 1st Party cover, 3rd Party cover and Incident Response cover.