What does cyber insurance cover?

Cyber insurance helps your business get back on track in the event of a cyber-attack.

Most importantly, you need a policy that provides incident response services, such as hands-on help and support from your cyber insurers.

A specialist package should also include:

• IT forensics – Costs associated with IT forensics and investigations.
• Data breach – Costs associated with a data breach, including legal costs and costs covering communications with affected data subjects.
• Regulatory and legal – Legal advice for notifying appropriate legal authorities like the Information Commissioner’s Office or national crime agency.
• Restoration – Costs associated with the re-build or restoration of your computer systems.
• Extortion – Costs associated with communicating and negotiating with cyber criminals who may be attempting to extort your business.
• Business interruption – Covers your lost revenue.
• Crime – Costs covering traditional ‘cash’ losses, for example if you have been subject to funds transfer fraud or push payment fraud. This is often a policy extension.