What happens if I lose my data because of a cyber attack?
If you lose your data due to a cyber attack, your policy will cover the cost of recovering or recreating it. It's crucial to inform your insurer about the incident immediately so they can guide you on the next steps.
- Data reconstruction
This covers the costs of recovering lost data or rebuilding it from backups. For example, if a ransomware attack encrypts or deletes critical customer information, the policy will pay for IT services to retrieve or recreate that data.
Quickly notifying your insurer helps ensure that recovery efforts are supported without unnecessary delays.
Back to Cyber Insurance 101Will the policy cover extra expenses I have to pay after a cyber attack?
Yes, your policy can cover additional costs you incur because of a cyber attack, but you must inform your insurer right away.
What if my business is already making losses? Will the cyber policy help with those losses?
Yes, even if your business is not profitable, the policy will still cover your fixed expenses after a cyber attack. Let your insurer know as soon as the attack happens.
How long will the cyber policy pay for business losses after an attack?
The policy will pay for your business losses until your operations are fully recovered. Make sure to report the incident to your insurer immediately.
If a cyber attack causes me to lose money or profits, will the policy pay?
Yes, if your business loses profits because of a cyber attack, the policy can help. Be sure to notify your insurer as soon as possible.
I already have fire insurance. Will it cover losses caused by a cyber attack?
No, fire insurance does not cover cyber-related losses. To get protection for cyber attacks, you need a specific cyber insurance policy.
Can I get covered if someone tricks my customers, bank, or financial institution into sending money?
Yes, your cyber insurance can help when deceptive communication leads to fraud. It's crucial to inform the insurer as soon as you become aware of such fraud.
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