iTOO Cyber Insurance

Costs to respond to a systems security incident, including:

• to obtain professional (legal, public relations and IT forensics) advice, including assistance in managing the incident, co-ordinating response activities, making representation to regulatory bodies and coordination with law enforcement;
• to perform incident triage and forensic investigations, including IT experts to confirm and determine the cause of the incident, the extent of the damage including the nature and volume of data compromised, how to contain, mitigate and repair the damage, and guidance on measures to prevent reoccurrence;
• for crisis communications and public relations costs to manage a reputational crisis, including spokesperson training and social media monitoring;
• for communications to notify affected parties; and
• for remediation services such as credit and identity theft monitoring to protect affected parties from suffering further damages.

Defence and settlement of liability claims arising from compromised information.

Defence and settlement of liability claims resulting from a system security incident affecting systems and data as well as causing harm to third-party systems and data.

Defence and settlement of liability claims resulting from disseminated content (including social media content) including:

• defamation;
• unintentional copyright infringement; or
• unintentional infringement of right to privacy.

Fines imposed by a government regulatory body due to an information privacy breach.

Loss of income and increased cost of working as a result of a systems security incident.

Costs to restore, re-collect or replace data lost, stolen or corrupted due to a systems security incident.

Costs to investigate and mitigate a cyber extortion threat. Where required, costs to comply with a cyber extortion demand.

Expenses for specialists to contain and manage an incident, for a pre-determined time without a deductible being applicable.

Cover for exposure to named outsourced service providers including:

• defence and settlement of liability claims resulting from your data being compromised from an outsourced service provider;
• business interruption losses resulting from a systems security incident at an outsourced service provider; and
• costs to change to an alternate outsourced service provider if required.

Unrecoverable loss of money, belonging to or for which you are legally responsible, as a direct result of a system security incident by a third party. Cryptocurrency losses are excluded.

Cover for direct monetary fines, penalties, assessments, chargebacks, reimbursements and fraud recoveries which you become legally obligated to pay in terms of a merchant services agreement as a direct result of a network security breach resulting from non-compliance with PCI-DSS.

Reasonable costs to demonstrate your ability to prevent a future breach as required by your merchant services agreement.

Call and/or bandwidth usage costs you are legally obligated to pay as a result of unauthorised use of your telecommunications system by a third party.

Costs to replace or repair direct physical damage of tangible property belonging to or rented, leased or hired by you as a direct result of a system security incident, e.g. hacker turns off a water pump which causes material damage – because the causation was a hack traditional policy would not trigger but a cyber policy could respond.