What is actually included?
Attention - go to
Cyber Coverage
A key question: What does the insurance actually cover? Or what do I want the insurance to cover? In other words, which benefit modules fit the company's needs?
Ceilings and covers
Cyber cover -
what we pay attention to
Organising the best possible cyber insurance can be complex. We are basically talking about three building blocks that can be covered:
- Own damage
- Third party damages
- Further costs
cybercoverage.we_pay_attention_to.description_2
Intrinsic damage
This is the damage to or within your own company. For example, economic losses due to business interruptions or costs for the recovery of data or systems, as well as cover for necessary forensic services and incident management.
Third party damages
These are the damages that may be incurred by partners, customers or other stakeholders. Here it is important to pay close attention to when a claim for damages is justified. These include, for example, unknowingly forwarding ransomware, data loss, obstruction of internet access, data leaks or the impairment of logistics or products.
Further costs
In addition, further costs can be incurred and also covered, as a major security incident has a further impact. These include things such as data protection violations & possible fines, legal costs, contractual penalties, PR and communication costs, possible ransom payments or improvement costs for better protection after a security incident.
In all three cases, insurance benefit modules may apply. It is therefore important to pay close attention to how the cyber insurance is structured. In the end, the details determine whether or not full coverage applies. For this reason, we scrutinise every last detail and are not satisfied with compromises. We firmly believe that cyber insurance must have individual components due to the high heterogeneity of companies.
