Cyber insurance

With cyber insurance , you insure yourself against the consequences of incidents related to digital processes, such as viruses, hackers, system break-ins, data leaks, lost data and DDoS attacks. Errors during the use, maintenance and improvement of the ICT system are also covered by cyber insurance. By reacting quickly and purposefully, the damage is limited as much as possible. In principle, cyber insurance offers worldwide coverage (without USA and Canada), unless otherwise indicated in the policy conditions.

Calculate the premium for cyber insurance

What is insured with cyber insurance?

This insurance covers legal liability, loss of profits, crisis management costs and own loss. The conditions are discussed in detail below. Think about:

• System intrusion and digital liability
• Theft of privacy-sensitive data
• Hacking
• Extortion and cyber attacks

Sum insured

You can choose the insured amount yourself. The lowest insured amount is €250,000 per event, per insurance year. The highest possible amount you can insure is €2,500,000 per event, per insurance year.

Liability

This insurance covers the costs if other parties suffer damage as a result of the cyber incident for which you are liable.

Repair costs

Repair costs include the costs of repair, replacement or restoration of websites, programs or data.

Loss of income/business interruption*

Does an attack on your computer systems result in loss of income? If so, this loss is covered. In the policy conditions you can read in which cases loss of income is further compensated.
* For business loss, a waiting period of 8 hours applies.

Data leak

When privacy-sensitive data is stolen, the costs of investigations, claims by individuals and fines imposed by regulators are reimbursed.

Breach of systems or data

If your systems or data are breached, the costs of (forensic) investigations, communications and customer support will be reimbursed. Communication includes communication with customers, justice, regulators and other involved parties.
In addition, crisis management and reputation restoration costs are also covered under this insurance.

What is not insured with cyber insurance?

There are a number of items excluded from coverage by default, such as:

• Intentionally causing damage
• When committing fraud
• If the damage is caused by data you have obtained illegally
• Damage caused by war, looting and governmental action

In addition, the following items are not insured with cyber insurance:

• Bodily injury and property damage
• Contractual liability
• Damages for breach of trade secrets or an intellectual property.
  This does not apply if you are held liable for a mistake regarding media.

In many cases with cyber insurance you have an excess. The excess is the part of the damage that you have to pay yourself every time you have damage. You can find out how high this excess is in the policy conditions.

Communicating changes is important

When you apply for insurance or if you have a claim, you have to answer questions. You must answer these questions honestly. In addition, you should do as much as possible to prevent and limit damage. Report damage as soon as possible! It is also important to inform us of any changes.

When you take out cyber insurance, you are expected to meet a number of prevention requirements. If you do not meet these prevention requirements, you may not be paid or only partially paid.

Calculate the premium for cyber insurance

Easy comparison and conclusion

You can easily compare insurances via our website. After entering a few details, a number of insurance policies with the corresponding premiums and policy conditions will appear, tailored to your needs. You can compare these. If you have found a suitable insurance, you can take out the policy immediately. Are you having problems or do you have any questions? If so, you can always contact us by telephone on +31 (0)88 - 688 37 00. We will be happy to help you.

Are you prepared for cybercrime?

The impact of a cyber-attack is very great. Cyber insurance is therefore no longer a luxury in this day and age. As an entrepreneur, you can do a number of things to minimise the risk of cyber attacks, such as:

• Install software updates regularly and make sure the systems are up to date.
• Use strong passwords and keep the passwords for the different programmes to a minimum.
• Make your staff aware of the risks and make clear agreements about how to handle customer data, among other things.

On this page you will find more tips on how to prevent cyber attacks.

The risks of cybercrime

Cyber attacks unfortunately occur on a daily basis and are not without risks. More and more Dutch companies are recognising the dangers of cybercrime. This is evident from the number of measures companies are taking to prevent a cyber attack. Due to the large increase in digital traffic, the danger of cybercrime will remain present in the coming years.

The main dangers of cybercrime include:

• Data theft
  When customer and/or supplier data becomes public, hackers can misuse this data in a variety of ways.
• Website (temporarily) down
  Temporary downtime of the website can lead to loss of revenue. You will not be able to reach (potential) customers temporarily.
• High costs
  Digital fraud or personal data theft often result in enormously high costs. In addition, you will need to invest in digital security to prevent any new cyber attack.
• Image damage
  When your company becomes a victim of cyber criminals, it creates negative publicity. This negative publicity creates image damage.

Calculate the premium for cyber insurance

Make employees aware of the dangers

The risks of digitising companies are quite considerable. It is important not to underestimate the risks and to make your staff aware of the possible dangers. Employees are often not sufficiently aware of the dangers of cybercrime. For example, the same password is often used for multiple websites. In addition, software updates are postponed for too long. This makes it extra easy for internet criminals to strike. Explain clearly why it is important to use strong passwords and to vary passwords. Also make the importance of software updates clear and warn against e-mails from unknown senders. Do not let them open e-mails or files from people they do not trust.

Calculate the premium for cyber insurance

What to do after a data breach?

A data breach can occur in various ways. Through cybercrime, personal data of third parties may end up in the hands of criminals. If this results in a security incident, this is called a data leak. A data leak is considered a breach of the privacy legislation. As a company you are, in most cases, obliged to report this to the Dutch Data Protection Authority and sometimes also to the parties involved whose data has been leaked.

The information that you generally need to report immediately includes

• Login data, such as user names and passwords.
• Financial data of the persons concerned.
• Medical and psychological data.
• Social data of a personal nature.

Are you not reporting a data breach when you should be? Then you risk a high fine.