Data Breach & Cyber Crime Insurance
In today’s modern business world, virtually all data and personal or corporate information is managed and stored electronically. Whether it be profiles of employees, credit card information, sensitive demographic information about customers, internal information on budgets, customer lists, or personal health information; companies of any size face very real liability issues if this data is stolen, manipulated or were to fall into the wrong hands and enter the public domain.
Many organisations mistakenly believe their Professional Indemnity, Management Liability or Public Liability insurances cover these risks. However these policies fall short of indemnifying the specific risks associated with data breach and cyber crime, and organisations may find they must bear the financial impact of:
- Being hacked, where electronic systems are locked or destroyed
- Client/patient data (whether stored electronically or not) being hacked, leaked online, mishandled by staff or contractors, or held for ransom
- Costs, fines and penalties associated with an investigation by the Privacy Commissioner or associated authority
Medisure’s Data Breach & Cyber Crime policy is designed specifically for these circumstances, and includes important cover for some of the more commonly overlooked impacts of cyber crime such as public relations and media management to minimise reputational damage.
This policy covers:
Personal & Corporate Data Liability
Defence Costs and Fines or Penalties
Impose or Voluntary Costs
Network Business Interruption
To download fact sheets and application forms, go to the technical library. For a copy of the PDS please call Medisure on (07) 3426 0440