Cyber Security & Privacy Liability Coverage

Cyber Liability responds to various losses resulting from, but not limited to: stolen credentials, malware, phishing and social engineering and breaches of privacy. 

Recently, we have seen the highest frequency of cyber-attacks to date. Not only are these threats occurring more regularly, they are increasing in complexity. As businesses have a larger online presence, these risks only compound.

The insurance cover responds to:

  • Third party claims against you;
  • Business interruption and costs to restore your data;
  • Notification of the breach.

Cyber Security & Privacy Liability Claim Example

An Arts Therapist’s Studio’s network was infected with a virus that was received via a phishing email which was opened by an employee by mistake; this allowed the hacker to gain access to the clinic’s website.

The Studio’s Cyber Liability Insurance responds to cover forensic IT costs to determine the extent of the breach and loss to data, Forensic accounting to determine any interruption to operations and loss of income, costs to remove the virus and to reinstate the insured’s data and systems. The total expenses incurred were $17,000.

Apply for Coverage

Please call BMS today on 1800 931 071 to receive a quote for Cyber Liability Insurance.