Our CyberSelect insurance product is aimed at mid-market to corporate clients. Our comprehensive ‘CyberSelect’ policy has 16 policy benefits.
Our key advantages
- Substantial capacity: With $15 million of capacity spread across two long-standing Lloyd’s binders, both in their sixth year of operation, we possess the financial strength and stability required to underwrite complex and diverse cyber risks.
- Incident response expertise: We pride ourselves on our collaboration with Clyde and Co’s esteemed incident response team. Their unparalleled expertise enables us to respond promptly and efficiently to cyber incidents, helping our clients mitigate potential damages and recover swiftly.
- Advancement of data breach response costs: This product focuses on making sure customers have a good experience when they make a claim. We’ve added something called “Advancement of Data Breach Incident Response Costs” to help with this. It means you can spend money on dealing with a breach without paying anything upfront or needing permission from Underwriters. We work with Clyde & Co’s approved vendors for the same.
What is covered
- Data Breach Incident Response Costs
- Advancement Data Breach Incident Response Costs
- Data and Program Restoration Costs
- Your network failure
- Outsource Service Provider/Cloud Service Provider Failure
- Reputational Harm
- Cyber Deception (Social engineering)
- Cyber Extortion and Ransomware loss and expenses
- Network Security, Privacy and Data Breach Liability
- Regulatory Liability (penalties)
- Media Liability
- Payment Card Industry Fines and Penalties
- Limitation of Liability Contracts Waiver
- Computer Hardware Cover
- Court Attendance Costs
- Cyber Terrorism
Product summary can be found here.
Who we cover
Australian and New Zealand companies up to $15m limit of indemnity on a primary and excess basis, participating in a broad range of industry activities
Appetite guide can be found here.
Claims and Breach response
In the event of a breach, global law firm Clyde & Co are the dedicated Incident Response Manager. Clyde’s team is uniquely placed to assist in bringing the situation to a quick and effective resolution. Having dealt with numerous data breach and cyber related incidents Clyde’s have developed a methodology to manage the threat and mitigate the risk, with a view to reducing the resulting damage.
An immediate response to a cyber threat or data breach is required. With a dedicated 24/7 incident hotline number and you have access to an emergency response team to manage incidents from the moment they occur, no matter what time of day or night.
Clyde’s act as breach coach to provide immediate and effective incident coordination of the response, including coordinating and engaging specialist third party service providers to assist in the response.
Industries we do not cover
- Adult entertainment
- Blockchain/crypto assets
- Games developers
- Multiple ticketing platforms
- Power utilities
- Online dating services
- Payday lenders
- Payment processors
- Real-time trading systems
- Social media platforms