Every organization should be having an Cyber insurance because of the risk of interception, manipulation and loss of data. Of course there is an urgeny for every company to make sufficient measures to make sure the risks are limited. But an Cyber insurance is a vital aspect for an oraganisation to limited the const if a will happen. below you find the main aspects of a cyber insurance.
1. Cyber insurance and System Intrusion
This coverage of a Cyber insurance covers its own costs resulting from burglary systems or data:
- cost of forensics.
- costs of communication with customers, regulators, prosecutors, and credit companies other stakeholders.
- cost of additional customer support, for example via a call center.
- cost of crisis management, reputation recovery and PR campaigns.
This coverage of a Cyber insurance covers consequences of stolen private information:
- cost of examination by, for example, law enforcement or credit card companies.
- claims of individuals.
- fines imposed by regulators or other mandatory fees.
3. Cyber insurance covers digital liability
This coverage covers damage resulting for example the website or e-mail unintentionally violates copyright, libel spread or contain a virus.
This coverage covers damage caused by hackers:
- repair, replacement or repair of websites, programs or data.
- cost of stolen software or data insured with this Cyber insurance.
- costs of research and consulting in system.
- cost of forensic investigation into the cause of hacking.
Protect your relationship from the damage of hackers who hijack the website or data. Your relationship gets assistance from professional security consultancy and possibly paid ransom reimbursed with this Cyber insurance.
6. Turnover loss by cyberattacks:
Cover lost revenue by, for example DDoS action or Another attack on the computer systems of your relationship, leading to loss of revenue, for example by failure an online store
All our business insurances including the Cyberrisk insurance here.
Data breach reporting desk
Since January 1, 2016, the data breach reporting obligation applies. This obligation to report means that organizations (both companies and governments) must immediately report to the Personal Data Authority as soon as they have a serious data breach. And sometimes they also have to report the data breach to those involved (the people whose personal data have been leaked). Organizations that want to report a data breach to the Dutch Data Protection Authority can do so via the data breach reporting desk.
Cyber insurance excluded branches
- financial institution (for example: banks, insurers, asset managers, pension funds)
- advising on and mediation in financial products (for example: insurance, credit, pension, and mortgage advisor, etc.)
- payment processing (payment processing, for example: Equens, iDeal, PayPal, Mastercard, ICS, American Express etc.)
- social media and social networks (for example: YouTube, Tumblr, Facebook, Linkedln, Twitter etc.)
- credit rating agency (rating agencies, for example: D&B, Moody’s, Fitch Ratings, Standard & Poor’s etc.)
- gambling sector
- sex industry