Published on 15/02/2016
Cyber insurance is an increasingly popular type of insurance that is widely available to businesses. Cyber insurance covers the losses relating to damage to, or loss of information from, IT systems and networks. It does not cover the consequential losses resulting from this scenario.
This insurance is useful in scenarios where a cyber-attack results in business interruption, income loss, damage management and repair, and possibly reputational damage if IT equipment or systems fail or are interrupted. However, if you are looking for an insurance policy to cover the consequential losses of a cyber-attack, so your business’ or your client’s money stolen via a cyber-attack then this policy is not for you.