CYBER CRIME AND LIABILITY
Technology has revolutionised the way we communicate, traditional insurance policies have not kept up with an ever changing landscape.
The SHA cyber product has been specifically created to provide comprehensive protection for cyber, privacy and media risks faced by companies in their day to day operations.
What is cyber crime?
Cyber crime is defined as any criminal activity involving a computer or network. It is the unauthorised access to, interference with, fraud and forgery of data.
Who should purchase this cover?
Every company that stores a client or employees personal information should have cyber insurance.
- “Network Security Breach” means failure by the Insured to protect against a Downstream attack, or Unauthorised Access to, Unauthorised Use of, Theft of Data from, Denial of Service Attack direct against or transmission of Malicious Code to the Insured’s Computer System, including physical theft of the Insured’s Computer System, or any part thereof.
- Liability following a breach (legal fees and damages)
- First party expenses (actual costs to restore, re-collect or replace data, costs and expenses of specialists,investigators, forensic auditors or loss adjusters
- Costs and expenses for the use of rented, leased or hired external equipment, services, labour, premises or additional operating costs including staff overtime).
- Loss of business income (net income which would have been earned had the breach not occurred).
- Notification expenses (expenses incurred to comply with privacy legislation such as legal expenses and communication expenses through mail, call centres, website and customer support expenses).
- Crisis management expenses (services of a public relations consultant, related advertising or
- communication expenses).
- Associated regulatory fines and penalties to extent insurable by law.
- Entire incident response team selected at inception
SME’s (turnover below R25m) can get some additional covers
- Theft of funds
- Multimedia liability (defamation and copyright through the use of social media, websites etc.)
- Professional indemnity for technology professionals
- Cyber Ransom and Extortion
- Up to limit of R10m in the annual aggregate
For a list of the team members who specialise in this area please click here
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Our specialist cyber offering is something that every broker should be familiar with.
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Reasons to insure with us
TOP 100 FINANCIAL MAIL COMPANIES
We are proud of our long standing association with majority of the top companies listed on the JSE
Our product range is geared up to protect the SME all the way up to the mega-corporate organisation
We employ a large team of specialists in our claims area, many of whom have legal qualifications or are admitted attorneys. This assures that our clients always get the most professional casualty claims service.
After 30 years we've seen most risks and our team of experienced underwriters are well positioned to tailor-make niche insurance solutions for any sized business across a diverse range of industries