Frequently asked questions

Investigate our Frequently Asked Questions for useful information regarding your policy

Other questions

Am I eligible to purchase Cyber Insure Insurance?

Provided you are:

- not a sole trader or an individual,

- a business with annual revenues of less than £25ml,

- a business domiciled in the UK

And not primarily doing business in:

  • Government
  • Education
  • Dating
  • Publishing
  • Gaming
  • Politics
  • Social networking
  • Pornography
  • Blogging or Vlogging

Should you have any further questions regarding eligibility please contact us on support@cyber-insure.com

Does my Cyber Insure policy cover my business for losses resulting from the actions of a contracted vendor?

The actions of a vendor with whom your business has entered into a contract of service and is disclosed in your application for insurance, will be covered; provided the loss occurred, during the duration of the contract and the actions of the contractor, relating to the loss, where within the course and scope of their employment.

What does Cyber Insure's product cover my business for?

  • Public Relations, Crisis Management, Forensics and Security Specialist Services - If something goes wrong then it's all well and good having cover for potential claims that may be made, but what happens when the incident is spread all over the papers? Bad press can have a major impact on anyone and can take a huge amount of time, effort and cost to rebuild. With a QBE Cyber policy comes the full support of experts at ReSecure. With a 24 hour hotline to assist in controlling and delivering a PR response and forensics teams to work out what has happened and rectify (if the extension has been purchased) the impact to your business can be minimised.
  • Information and communication asset rectification costs - if systems have been damaged or data lost, it can be time consuming and expensive to repair or replace the systems. This cover will put a business back to the position that you enjoyed before the incident.
  • Cyber Business Interruption costs - If systems or data are damaged or lost, it is highly likely that the functionality of the company will be restricted if not stopped. This cover will indemnify the insured for lost profit following a cyber incident.
  • Regulatory defence and penalties - The area of data security is continually moving with more and more responsibility being placed on companies. Cover will extend to cover fines imposed by government or public authority regulator against the insured to the extent of insurable by law.
  • Privacy breach costs cover - Reform of European Data protection laws mean that companies will be required by law to notify data protection authorities and data subjects where there has been a data loss. The General Data Protection Regulation is anticipated to come into play in 2018. This section of cover provides cover for the costs incurred in notifying those affected, credit monitoring of those affected where necessary and also the costs of setting up a call centre to field enquiries of concerned clients.
  • Dishonesty of Employees - Unfortunately the people whom are employed and trusted have the greatest opportunity to access the information companies have. Password protection and restricted access are two ways of reducing the chance of something happening but don't make companies fully secure. Unfortunately some disgruntled employees want to have the last word before they leave!
  • Cyber Extortion - This cover protects the insured from potential cyber extortion. Here the policy will allow for the payment of genuine threats along with the negotiation, handling, contracting and delivery of monies.
  • PCI/DSS Coverage Endorsement - The endorsement provides insurance cover for PCI fines imposed following a breach of payment card data, which could include legal and investigation costs as a result of a written demand for payment under the terms of a merchant services agreement. Kindly note this endorsement is an additional option and not included in the standard policy. To qualify for this endorsement, up to date PCI compliance is required.”

Who are the insurers of Cyber Insure?

The policies Cyber Insure offers are underwritten at Lloyd’s of London. You can therefore have total peace of mind as Lloyd's currently enjoys an A+ rating from Standard & Poor's, AA- from Fitch and A from A.M. Best in terms of our carriers financial strength.

Am I covered if I have non UK third party information in my possession?

Yes but only to the extent that the information in your possession is from within the EU.

Non-EU information will not be covered unless explicitly agreed by our underwriters. This information must be declared as part of the application process so that we are able to assist you. 

Policy language explained

  • Retroactive date: 

    The date (if any) specified in the policy (including the policy schedule). The policy excludes any insured event committed, or alleged to have been committed, prior to the retroactive date.

  • Policy Limit of Liability: 

    The amount stated in the policy schedule which is the maximum amount of the insurer’s liability under any one and all sections for any one period of insurance. 

  • Excess: 

    The first amount to be borne by the insured as uninsured loss, or the first period of time that is uninsured, whether described in the policy schedule or within the policy as an excess,  self-insured excess or otherwise, after the application of all other terms and conditions of the policy. 

     

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