Cybercrime is increasingly becoming one of the leading business risks globally. The illegal release of personal information like customer or employee records, credit card details or patient information can not only affect you financially but can also harm your intellectual property, client trust and reputation.
In today’s digital world, it’s never been more critical to protect your private information of employees and clients, as well as your digital assets and online systems which could be compromised.
All businesses, large or small, can be the target of cyber-attacks. As technology advances and more companies have an online presence, Cyber Liability is a threat to all businesses. Cybercriminals can commit internet and computer crimes via social engineering fraud, phreaking, phishing, or other forms of cyber fraud with the intent to steal company or client data or money from your organisation or business.
There are two main Cyber Insurance policy types to consider when it comes to protecting your business from cyber crime.
Cyber Crime Insurance (or Cyber Crime Policy Extension)
A typical Cyber Crime Policy will provide cover for:
Cyber Liability and Privacy Protection Insurance
A typical Cyber Liability and Privacy Protection Insurance policy will provide cover for: