Cyber & Data Protection

Cyber & Data Protection Insurance

Cyber insurance aims to protect companies against cyber-related risks. More specially, it protects against risks related to information technology infrastructure and cyber incidents such as hackings, data breaches, extortions, malwares and Denial-of-service (DoS) attacks. These risks are usually not covered by other insurance policies such as Property All Risks, Professional Indemnity or Public Liability insurance.

Cyber insurance provides first-party coverage against losses due to a covered events such as data loss, extortion, theft or hacking. The policy also indemnifies the company against legal lawsuit following a breach of private information or defamation as well as expenses incurred to recover data, provide security audit, or post-accident public relations and investigations expenses. The policy may also cover criminal funds reward, depending on how the policy is structured.

If you need more clarification and consultation on how a Cyber & Data Protection Insurance will benefit your business in Singapore, please feel free to contact us.

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