Introduction
Cyber and Digital Risks Insurance
Specializing in APAC, Hong Kong and Chinese companies, CCW Global is able to provide businesses around the world with comprehensive Cyber and Digital Risk Insurance coverage.
With the growing dependency companies have on the internet and digital tools for conducting business a single untoward event can have a disastrous impact on the overall success of an organization. From DDOS attacks, malicious hacking events, and even simple human error, the cyber and digital systems of the 21stcentury are more vulnerable than they may appear; and with the increasing attention paid to corporate IT systems, websites, and digital properties by malicious individuals and organizations, the losses associated with a single successful Cyber-attack can be extreme.
Comprehensive Cyber Risk Insurance plans which have been designed to offset the losses associated with a wide range of Cyber events are the perfect way to protect a company against the growing threat of operating in the digital economy.
Overview
Cyber Risk Insurance Coverage
A Cyber Risk Insurance plan is one which is designed specifically to address the risks to companies from their online and IT activities. Blending both third party and first party coverage solutions, Cyber and Digital Insurance plans are designed to bridge the coverage gaps left by traditional industrial-age insurance covers.
Under a Corporate Cyber Insurance plan, businesses are protected for First-Party Expenses, Third-Party Liability, and Business Interruption costs.
Understanding Corporate Cyber Insurance
Third Party Cyber Liability Coverage
Cyber Insurance plans offered by CCW Global will include comprehensive protection for a company’s liability to third parties – including customers, regulators, and government departments. Under Cyber and Digital Insurance plans from CCW Global, companies are covered against:
- Disclosure Liability
- Reputational Liability
- Content Liability
- Conduit Liability
- Impaired Access Liability
This ensures that a business is protected for their obligations to the public and any applicable third parties no matter what negative cyber event the company experiences.
First Party Cyber Insurance Protection
A Cyber loss event may also impact a business’ day-to-day operations, and require a significant amount of investment to rectify. As such, Cyber Insurance plans from CCW offer extensive first-party protection for companies, and ensure that businesses are protected for:
- Business Interruption Expenses
- E-Vandalism Losses
- E-Threat Losses
These coverage benefits ensure that companies are able to access vital funds to enable continued operations in the wake of a cyber attack; even if the overall business is interrupted or the attack itself causes a loss.
Cyber Expense Insurance Protection
With the regulatory provisions for consumer privacy and mandated reporting requirements following a cyber-attack incident, many businesses may find themselves bogged down in the bureaucracy of notifying and managing the general public in the wake of a cyber-intrusion.
Under a Cyber Insurance policy coverage is normally provided for miscellaneous expenses a company has incurred following a cyber-incident. Coverage under this type of benefit will usually include protection for the costs associated with:
- Privacy Notifications to customers and the general public
- Crisis management fees following the incident
- Reward expenses
This ensures that a business does not have to bear the burden of the regulatory expenses while also dealing with the fallout following a severe cyber event.
Quotation
Free Cyber Insurance Consultations
Cyber Insurance Plans from CCW Global are tailored to meet the specific requirements of the company being covered. If you would like to arrange a free no-risk no-obligation consultation to with a CCW Global insurance broker to discuss Cyber Insurance protection for your business, please Contact Us Today.
You can learn more about the extended services CCW Global offers to our corporate customers by clicking About Us.
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