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Your Cyber Insurance cover in a nutshell
Cyber Insurance and Data Insurance are designed to support and protect you from evolving e-risks. It provides comprehensive cover for your computer systems and data, whether electronic or non-electronic. We will pay for claims made against you during the period of insurance arising from your cyber or data liability, up to the limit of indemnity shown in the schedule. We will also pay your legal defense costs incurred with our agreement for covered claims. Your policy schedule will state if such costs are included within the limit of indemnity or payable in addition to it.
We also pay for your own losses arising from cyber or data incidents occurring during the period of insurance, up to the limit of indemnity shown in the schedule.
We don’t just pay out when you suffer a loss or a claim, we also work with and offer support in the event of a claim, helping to minimise the damage to your company. Your policy will also include access to Hiscox eRiskHub providing you with support and resources to help stay on top of evolving risks.
The limit of indemnity will be on an aggregate basis. This means that the limit of indemnity applies to the total of all claims made against you during the period of insurance. Each section of the policy is subject to separate limits of indemnity, with further limits for certain items such as forensic costs. Those limits are stated in the schedule, which you should check carefully.
The cover you benefit from will depend upon which sections you are insured for, which will be stated on the policy schedule. Please check your policy schedule to see which of the following sections you benefit from.
We will also pay for the above where you have incurred loss as the result of a breach by a supplier of yours.
If your business suffers from an interruption as a result of a cyber-attack from a third-party or a hacker, we will pay for:
If you discover that you have been the subject of a hack, we will pay loss caused by:
If you receive a threat from a third-party to damage your computer systems or disseminate commercially sensitive information, following unauthorised electronic access to your systems, we will pay:
If a claim is made against you for breach of personal data or sensitive commercial information, Hiscox will cover the following:
If a claim is made against you due to content changes that a hacker has made, Hiscox will pay the compensation and defence costs where the claim includes:
Significant or unusual exclusions and limitations:
We do not pay for any claims, losses, breaches, privacy investigations or threats due to:
We will also not make payment:
We may reduce any payment we make equal to the detriment we have suffered if you:
Hiscox public PDF can be found here