What is Cyber Liability Insurance?
Data, electronic system security and privacy liability, a.k.a. Cyber Liability, has received a lot a press recently. Wannacry & Petya are among the most recent high profile examples of Ransomware that have crippled firms IT Systems worldwide. Cyber attacks are often unreported, in spite of the damage that they do, for fear that a breach could damage the reputation of the firm. As part of your firm’s investment in cyber protection, Cyber Liability Insurance can relieve some of the pressures brought on by an attack. It can be invaluable in helping you through any such attack, and maintain the reputation of your firm.
What are my exposures?
Traditional Insurance Policies such as Professional Indemnity & Management Liability may not cover new cyber-based risks. Cyber Insurance Policies are increasingly important across all industries, but they are critical for your industry that has sensitive data at the core of their business. First Ireland has policies suited for your firm that will include the following covers: