Our CyberSelect insurance product is aimed at mid-market to corporate clients. Our comprehensive ‘CyberSelect’ policy has 16 policy benefits. At the core of this product is customer experience at the time of a claim. To ensure we have an exceptional customer experience in the event of a notification we have included “Advancement of Data Breach Incident Response Costs” see Section 4 – Extensions. This provides the Policyholder the ability to incur breach response costs with NIL EXCESS, without Underwriters prior written consent.
Under this section our pre-agreed breach council is Clyde & Co and their approved vendor panel.
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 $20m 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.