When a UK-domiciled organisation with a turnover under £20m achieves self-assessed certification covering their whole organisation to either the basic level of Cyber Essentials or the IASME Standard, they are entitled to opt into £25,000 of cyber insurance, terms apply. This article covers that insurance offering.
Cyber and privacy liability
Liability: claims made against you arising out of Digital Media Activities and Security and Privacy Liability.
Event Management: The reasonable and necessary fees, costs and expenses of: Legal Expenses; IT Expenses; Data Recovery Expenses; Reputation Protection Expenses; Notification Expenses; Credit Monitoring and ID Monitoring Expenses; and First Response Expenses.
Extortion Threat.
Regulatory Investigations: (defence costs) & regulatory fines (where insurable by law).
Network Interruption: The reasonable and necessary costs and expenses that a Company incurs to minimise the Network Loss, or reduce the impact of a Material Interruption; provided, however, that the amount of Network Loss prevented or reduced would be greater than the costs and expenses incurred.