When an organisation with a turnover under £20,000,000 achieves self-assessed certification covering their whole organisation to either the basic level of Cyber Essentials or the IASME Standard, they are automatically awarded Cyber Liability Insurance, terms apply.
£25,000 limit of indemnity covering:
Costs to engage Legal, IT Forensics, Data Restoration, Reputational Protection, Notification Costs and Credit and ID Monitoring services following an actual or suspected breach of personal or corporate information, an IT security or system failure
Data Protection Obligations
Insurers will pay:
- Defence Costs in respect of a Regulatory Investigation, and;
- Any lawfully insurable Data Protection Fines that the Company is legally liable to pay in respect of such Regulatory Investigation with regards to a breach of Data Protection Legislation
Damages and Defence Costs arising from:
- An actual or alleged breach of data
- An actual or alleged security failure
- The failure to notify a Data Subject and/or any Regulator of a breach of personal information in accordance with the requirements of Data Protection Legislation
- An actual or alleged breach of duty by the Information Holder in respect of the processing information (for which the Company is responsible) on behalf of the Company
A major breach may well require more than the £25,000 cover. Higher limits of indemnity and extensions to the cover are available on request.