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 Cyber Liability Insurance > Summary of Cover
Insuring Clause 1: Claims made against you by a third party
Pays on your behalf your defence costs, the claimants costs and your legal liability to third parties for any claim for:
- libel and slander
- breach of intellectual property rights
- breach of confidentiality or rights of privacy (e.g. breach of Data Protection Acts)
- damage to Third Parties' Computer Systems and/or Computer Records (e.g. through forwarding a virus, your employees' hacking, computer error, or fraud)
- Third Parties' financial losses arising from dishonesty of your Employees or other Third Parties (e.g. credit card numbers misappropriated, hacked or stolen in any other way)
- the Third Parties' reliance on your Computer Systems (i.e. consequential loss through not being able to access your Computer Systems for any reason)
.....arising out of your 'e-activities' (Your 'e-activities' are broadly defined as 'the transacting, disseminating or enabling the marketing, buying, selling or distribution of goods, services or information through electronic networks')
Insurers will also reimburse you for your own losses, arising in the course of your e-activities for:
- Insuring Clause 2: Loss of your computer records and systems, through a hacker or virus (i.e. 'remote' threats) and/or employee fraud.
- Insuring Clause 3: The use of your computer systems to achieve theft from you,
e.g. a hack attack or employee fraud
- Insuring Clause 4: Illegal threats or extortion relating to your computer system or web site
losses arising due to being held to ransom in a way connected to e-activities, sometimes known as cyber-extortion, including hacking attacks.
- Insuring Clause 5: Legal fees incurred in the enforcement of your (e-related) intellectual property rights against others web site content.
- Insuring Clause 6: Interruption to your business.
reinstatement of your profit lost due to being unable to trade, either on the internet, or due to you being unable to use your computer systems due to a hacker, virus, employee dishonesty, power or telecommunications suspension
- Insuring Clause 7: Payment of charge-backs to the bank.
i.e. those sums that your bank shall request as reimbursement from you due to your customer's payment for your goods or services subsequently being refuted, and you not having signature-on-file
Other coverages:
- Insuring Clause 8: Claims made by your employees (arising out of your 'e-activities'.)
for an inappropriate work-place, such as sexual harassment charges from an employee due to disturbing e-mail content, or for breaches of confidentiality or rights of privacy including breaches of the Data Protection Acts (1994/8).
- Insuring Clause 9: Brand protection public relations consultancy to avoid or mitigate any damage to your brand due to any of the above purchased coverages.
Note: This is only a summary of the Policy. Reference should be made to the full wording.
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