Cyber Insurance

Our cyber insurance solution provides cover for the following costs associated with responding to a network security or privacy breach:

Data recovery and business interruption expenses to cover:

  • Security specialists, attorneys, forensic investigators and loss adjusters to contain, manage and recover from an incident
  • System downtime and consequential loss of earnings
  • Restoration or recovery of data and operations

Crisis management and notification costs for:

  • Communication during the crisis, especially to keep affected parties informed
  • Remediation services to safeguard affected parties, e.g. credit monitoring
  • Sending notifications to affected parties
  • Public relations campaigns to limit reputational damage
  • Cyber extortion
  • Expenses for specialists to investigate and mitigate a cyber extortion threat and, where deemed necessary, costs to terminate a cyber extortion threat

Cyber liability:

  • Defence and settlement of third party liability claims arising from the compromised data
  • Defence and settlement of third party liability claims as a result of system security failures causing harm to third party systems and data
  • Fines and penalties, to the extent insurable by law
  • Digital media liability 
  • Liability associated with disseminated digital content, including unintentional copyright or infringement upon rights to privacy

Claim examples:

  • A hacker or rogue employee steals customer data and threatens to post it publicly or sell it in exchange for money
  • An employee’s laptop is stolen containing sensitive customer information
  • Malware is launched and causes operational disruptions

Ryan van de Coolwijk

Ryan holds a BSc in computer science, a national diploma in computer system engineering, and a host of other related qualifications. He has extensive experience in information security, having worked at ISA, Deloitte and CyGeist before joining ITOO in 2016.

ryanv@itoo.co.za

011 351 2517

Capacity: R150 million

Required: Proposal form. We may also conduct our own cyber survey

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