Cyber Liability Insurance
Covers the costs incurred arising from Cyber Attacks or Hacking
In today’s technologically-driven environment, many companies, government entities and non-profit organisations depend on technology to conduct their business. Any company can experience disruption to its IT infrastructure or data breaches involving both corporate confidential information and sensitive customer/employee information, caused by Cyber Attack or Hacking.
No business, regardless industry or size, is immune against Cyber Risks. Cyber-related events not only bring harm to an organisation’s business operation and reputation but also its balance sheet.
Organizations have the responsibility to protect their customers’, investors’and employees’ sensitive information, including Personal Identifiable Information (“PII”) and corporate confidential information. Globally, governments have continued to toughen their legislations and as a result, more notifications and potentially higher fines are expected resulting from potential breaches of such legislations arising from data breaches.
Cyber Liability Insurance provides cover for costs incurred arising from a cyber-related event.
What Cyber Liability Insurance covers: -
Third Party Cover
• Defence Costs
• Settlement
• Damages Awarded to Third Party
First Party Cover
• Business Interruption Loss Cover
• Investigation Costs and Fine Cover
• Forensic Expenses
• Restoration Costs
• Notification Costs
• Credit Monitoring Costs
• Public Relation Costs
Contact us
+65 6221 1288 IES.EngineerSG@lockton.com
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