Most common cyber threats
Every company whose activities depend on data and information systems faces cyber risks.
Malicious activity against computer systems or the data contained on them.
Breach of important data for public use, data ending up in the use of the wrong person or a criminal.
An employee clicks on hidden malware, leaks data or makes an uncontrolled transaction.
Malware encrypts data and systems and demands money to return them.
Money is transferred to the criminal’s account due to a fake invoice or changed account number.
95% of cyber attacks start with a human error.
Hackers attack every 39 seconds
It takes almost six months until a data breach is discovered
Hedge company’s cyber risks
In the case of a cyber attack, the question is not whether but to what extent the incident will take place.
Manage cyber risks
Identify threats, security vulnerabilities, probabilities of incidents and impact.
Invest in security measures
Train employees and invest in security technology.
Choose insurance based on the cyber risks of the business.
Monitor the situation
Be aware of activities and discover anomalies before it is too late.
EUR 750,000 in damages and legal costs
An employee of a law firm downloaded a virus on to their computer, which spread to the company’s computer network, destroyed data and was transmitted to the customers’ computer networks. The customer sued the law firm because the latter should have been able to prevent the spread of the virus.
Replacement of systems worth almost €1 million and suspension of business activities
The virus spread to the construction company’s computers and servers. The company had to suspend its activities for weeks. Computers and servers were replaced as this was cheaper than deleting, formatting and restoring old systems.
Almost EUR 900,000 in legal costs, a GDPR fine and damages
Information related to the personal and bank accounts of employees and visitors was hacked and stolen from the hotel’s information systems. The information was sold to a website that used the data to create false identities.
What does cyber insurance offer?
Covered non-deductible crisis management and data leakage reporting costs.
Data and system recovery
Coverage of damage incurred by the company.
Suspension of business activity
Coverage of damage due to suspension of business activities.
Cyber extortion and fraud
Reimbursement of damages due to ransomware attacks and financial fraud.
Technical failure and user error
Coverage of damage to or loss of data due to a computer system failure or user error.
Funds are provided for indemnification of liability insurance claims.
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Business Fraud Insurance
Compensates the company for financial damage caused by a crime.
Management Board Member’s Liability Insurance
Protects the company’s management from claims arising from management decisions.
IT Company Insurance
Covers risks related to the field of information technology.