2015-12-05

Cyber

Technology is revolutionising the way we communicate, yet traditional insurance policies have not kept up with this ever changing landscape.

The SHA cyber product has been specifically created to provide comprehensive protection for cyber, privacy and media risks faced by companies in their day to day operations.

What is cyber crime?

Cyber crime is defined as any criminal activity involving a computer or network.  It is the unauthorised access to, interference with, fraud and forgery of data.

Who should purchase this cover?

Every company that stores a client or employees personal information should have cyber insurance.

Triggers
  • “Network Security Breach” means failure by the Insured to protect against a Downstream attack, or Unauthorised Access to, Unauthorised Use of, Theft of Data from, Denial of Service Attack direct against or transmission of Malicious Code to the Insured’s Computer System, including physical theft of the Insured’s Computer System, or any part thereof.
  • “Privacy Breach” means a statutory, regulatory or common law breach of confidentiality, infringement, or violation of any right to privacy, which results in harm to employees of the Insured or third parties, including but not limited to unauthorised access to or collection, use, or disclosure of a person’s personal information, breach of the Insured’s privacy policy, breach of a persons’ right of publicity, false light, intrusion upon person’s seclusion.

Cover
  • Liability following a breach (legal fees and damages)
  • First party expenses (actual costs to restore, re-collect or replace data, costs and expenses of specialists,investigators, forensic auditors or loss adjusters
  • Costs and expenses for the use of rented, leased or hired external equipment, services, labour, premises or additional operating costs including staff overtime).
  • Loss of business income (net income which would have been earned had the breach not occurred).
  • Notification expenses (expenses incurred to comply with privacy legislation such as legal expenses and communication expenses through mail, call centres, website and customer support expenses).
  • Crisis management expenses (services of a public relations consultant, related advertising or
  • communication expenses).
  • Associated regulatory fines and penalties to extent insurable by law.
  • Entire incident response team selected at inception

SME’s (turnover below R25m) can get some additional covers
  • Theft of funds
  • Multimedia liability (defamation and copyright through the use of social media, websites etc.)
  • Professional indemnity for technology professionals
  • Cyber Ransom and Extortion
  • Up to limit of R10m in the annual aggregate

 

 

Download an SME Cyber Fact Sheet

Download a Corporate Cyber Fact Sheet

Download a Proposal Form (SME) an SME has a turnover under R25m per annum

Download a Proposal Form (Corporate)

If you’re a broker and you’d like to get your clients onto SHA Cyber, send an email to cyber@sha.co.za or call us 011 731 3600

Alternatively, search for a team member using the “Find a team member” directory.