Policy Terms FAQs
This is simply the events which are covered by your cyber insurance policy, for example a data breach or cyber-crime.
Conditions are the things your business needs to do to remain covered by your insurance policy, common conditions of cyber cover policies include:
- Reporting a claim within a set time frame, e.g. within 7 days of becoming aware of a data breach.
- Backing up your files on a regular basis, e.g. to a separate cloud storage location every 7 days.
- Ensuring your business is protected by anti-virus software.
- Taking reasonable care with your computer systems e.g. installing updates and patches.
Your policy document should include all the conditions of your cover.
Yes, you should be able to see a copy of the cyber insurance policy terms from your insurer before your purchase a policy. Many insurers have a copy of their terms on their website, alternatively you can contact them directly to get a copy sent to you.
This depends on the insurer and what you would like to have changed. If you are taking out an “off the shelf” policy, then it is less likely that you will be able to have the policy terms altered.
If there is something, you are unsure of, or need something in the terms amended then speak directly with the insurer to discuss what you need before you proceed.
It is the period during which you suffer a loss or income or other costs, starting on the date of the cyber event, e.g. data breach.
This is simply the events which are covered by your cyber insurance policy, for example a data breach or cyber-crime.
Conditions are the things your business needs to do to remain covered by your insurance policy, common conditions of cyber cover policies include:
- Reporting a claim within a set time frame, e.g. within 7 days of becoming aware of a data breach.
- Backing up your files on a regular basis, e.g. to a separate cloud storage location every 7 days.
- Ensuring your business is protected by anti-virus software.
- Taking reasonable care with your computer systems e.g. installing updates and patches.
Your policy document should include all the conditions of your cover.
Yes, you should be able to see a copy of the cyber insurance policy terms from your insurer before your purchase a policy. Many insurers have a copy of their terms on their website, alternatively you can contact them directly to get a copy sent to you.
This depends on the insurer and what you would like to have changed. If you are taking out an “off the shelf” policy, then it is less likely that you will be able to have the policy terms altered.
If there is something, you are unsure of, or need something in the terms amended then speak directly with the insurer to discuss what you need before you proceed.
It is the period during which you suffer a loss or income or other costs, starting on the date of the cyber event, e.g. data breach.