Cyber Protect is designed to cover against three sections which are third party liability, first party and relevant costs
Third party liability due to privacy and confidentiality breach, for network security liability, for media liability (negligence in digital publication), for regulatory legal costs, internal Investigation cost and contractual penalties imposed by Payment Card Industry for breach of their Data Security Standards.
First Party for business interruption loss – for loss of profits and other costs associated with cyber attacks, for loss of profit and other costs as a result of internal errors and unexpected technical failures, business interruption due to legal or regulatory requirement, hacker theft and cyber extortion.
Costs consists of crisis management costs, notification costs & voluntary notification costs, reputational advice cists, mitigation costs, restoration costs, betterment following an Insured Event, emergency costs.
