Brand Protection Archives

CGU Cyber Defence Product Review

CGU Cyber Defence Protects your business against cyber exposures that can impact your business from direct costs to your business, and claims from third parties. Costs associated with defending cyber claims are also covered. CGU’s incident response team is on alert and ready to take action 24/7.

Key features:

All subsidiaries covered including new and former subsidiaries
Advancement of defence costs
Breach Coach helps you understand what needs to be done
Worldwide territorial cover no matter where the attack originated from
Covers you for privacy breaches of data you capture and held by service providers (e.g. Cloud, ISP’s etc)
Free 1 Hour cyber consultation to assess risk mitigation strategies
24/7 Incident response team
Public relations consultancy costs to protect the personal reputation of senior executives

CGU Cyber Defence at a glance

Privacy Breach

Privacy protection against third party claims for loss of;

Personal Information
Commercially Confidential Information
Employee Information
Information held by Service Providers (e.g. Cloud, ISP’s etc)
Defence costs covered

System Damage

Cover for lost, damaged or destroyed;

IT systems,
IT records / data
Includes retrieving, repairing, restoring or replacing data, systems or hardware
Also, includes external IT forensic or security consultants costs

Business interruption

Cover for loss of profits due to a Cyber Event
No indemnity period restriction
• Subject to a time excess of 12 hours
COMPUTER VIRUS & HACKING
Cover for liability arising from hacker attack or virus
Covers loss or theft of your data or data for which you are responsible
Attacks by employees and third parties covered
Includes loss by phishing emails or Denial of Services attacks

Computer crime (OPTIONAL EXTENSION)

Cover for crime losses (sub limit applies) including;
– Loss of money
– Covers loss of money from Service Providers systems
– Loss caused by rogue employee or third party

Multimedia Liability

Protection against libel, slander or defamation
Cover includes infringement of copyright, trademarks & trade names
Covers your defence costs and third party’s costs
Covers all your marketing material (digital or print)

Breach Of E-Commerce Statutory Duties

Covers breach of statutory duty from eCommerce relating to security & management of data
Defence costs and compensation payable to third parties

Extortion

Covers payment of ransom
Costs of negotiating/mediating a security threat
Covers crisis management costs to resolve security threats

Brand protection

Public relations consultancy costs to protect the
company brands.

Personal Protection

Public relations consultancy costs to protect the personal reputation of senior executives

Privacy Fines & Investigations

Cover includes fines and penalties incurred by you due to a privacy breach
Includes cover for your defence and investigation costs

Privacy Breach Notification & Loss Mitigation

Covers your breach costs including credit monitoring, identity theft monitoring, data restoration and forensic costs
Includes your legal costs
Access to call centre support services
Covers actual or suspected privacy breach

Reward Cover

Covers reward expenses to secure conviction of perpetrators of hacking attacks
Include payment of money or property for securing a conviction

Download a Brochure PRIcyber_defence_productoverview

Please note Cyberliabilitycomparison.com.au Insurance News is an information service sometimes provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on the inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs

Cyber Claim Scenario – Brand Protection

(First Party Claim)

Brand Protection Example Claim

A leading software provider breached its obligations to Australian customers when hackers broke into its systems in 2013 and made off with loosely encrypted passwords and credit card details. The Australian Privacy Commissioner investigated the issue and ruled the company failed to take ‘reasonable steps’ to protect the personal information of 1.7 million Australians to the level demanded by domestic privacy legislation.

RESULT

The company engaged the services of a public relations consultancy firm to limit the brand/reputation damage associated with the findings.

CGU SOLUTION

CGU Cyber Defence provides coverage for the costs associated with regulatory privacy investigations and costs to engage a public relations firm to protect the company brand.

Source CGU

Speak to one of Insure 247’s brokers on 1300 046 787

Please note that any advice given has been provided without taking into account your objectives, financial situation or needs. It is also based on information we have obtained from you. You must ensure the information is accurate and complete. Otherwise, this advice may be based on inaccurate or incomplete information. You should consider whether the advice is appropriate in light of your objectives, financial situation and needs