Cyber Liability Insurance
OMI CYBER LIABILITY INSURANCE
Cyber Liability Insurance
Keeping you and your client’s data secure matters – your own information and anything that your clients entrust to you .
If a hacker targets your business, there’s an IT failure or you (or someone in your business) accidentally shares something they’re not supposed to, it takes time and money to fix. Putting a cyber and data risks insurance policy in place means you’re protected.
What does it Cover?
Cyber insurance primarily protects businesses against business interruption and financial losses caused by cyber events, cybercrime, and privacy breaches.
A good cyber insurance cyber insurance policy will also provide access to technical resources including IT security experts, forensic investigators, lawyers and crisis communications specialists who will help you manage the situation and get back online as quickly as possible.
Your cyber liability insurance can cover cyber security and privacy liabilities including:
Cyber extortion.
Cyber terrorism and data asset loss.
The cost of responding to a breach.
Plus regulatory investigations and defence costs.
Civil fines and penalties (a major concern with GDPR).
Business interruption and loss of income.
Litigation damages and costs from individuals/class actions, and multimedia liability.
Extensions are available for reputational damage and cyber crime.