What is data protection insurance and what does it cover?

Data Protection Insurance, is designed to support and protect your organisation if it experiences a data incident, investigation, breach or malicious cyber hack that affects your systems or ability to operate.

This Data Protection Insurance provides the following cover for the Insured Organisation on a claims made and reported basis.

Breach Response cover for:

  • Breach Response: Breach Response Costs incurred because of an actual or reasonably suspected Data Breach or Security Breach first discovered during the Policy Period.

First Party Loss: indemnity cover for:

  • Business Interruption Loss: Business Interruption Loss sustained as a result of a Security Breach that the Insured first discovers during the Policy Period.
  • Cyber Extortion Loss: Cyber Extortion Loss incurred as a result of an Extortion Threat first made against the Insured Organisation during the Policy Period.
  • Data Recovery Costs: Data Recovery Costs incurred as a direct result of a Security Breach that the Insured first discovers during the Policy Period.

Liability cover for:

  • Data & Network Liability: Damages and Claims Expenses because of any Claim first made against any Insured during the Policy Period for:  
    1. a Data Breach;
    2. a Security Breach;
    3. the Insured Organisation’s failure to timely disclose a Data Breach or Security Breach;
    4. failure by the Insured to comply with that part of a Privacy Policy provided the Insured Organisation has in force, at the time of such failure, a Privacy Policy that addresses those subsections above that are relevant to such Claim.
  • Regulatory Defence & Penalties: Penalties and Claims Expenses, because of a Regulatory Proceeding first made against any Insured during the Policy Period for a Data Breach or a Security Breach.
  • Media Liability: Damages and Claims Expenses, because of any Claim for Media Liability.