Cyber Liability Insurance Policy

Cyber risk is “any risks that emanate from the use of electronic data and its transmission, including technology tools such as the internet and telecommunications networks.

It also encompasses physical damage that can be caused by cyber-attacks, fraud committed by misuse of data, any liability arising from data storage and the availability, integrity and confidentiality of electronic information – be it related to individuals, companies or governments.” 

The growth of e-commerce, web-site and email has brought with it an ever-increasing risk of claims on a global basis for breach of copyright, misleading statements and libel and slander.

As an employer, you will not only be responsible for the content of your web-site, but also the content of your employees' email.

There is also risk of unwittingly transmitting a computer virus to a third party, either by email or downloading information from a web-site. Such "damage" will not be covered under usual public liability policy, but the financial cost of retrieving the data could be extremely expensive.

You could also be held in breach of data protection in the event that a third party accesses your system and obtains personal data held on files. With companies increasingly using e-commerce, the failure of a web-site would result in a financial loss for a third party.

As a result, we have identified a market who can insure not just the liability but damage to your own systems arising out of the use of such media.

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