It’s never been more important to protect a company’s balance sheets and reputations from cyber risk. Over the past decade we have seen an increase in the costs to organisations as a result of cybercrime and despite advances in cyber security it is clear the hacker is currently winning the battle. Data breaches, network outages, corrupt data, lost customers, regulatory fines, litigation claims, and cyber-extortion payments are issues the majority of companies rarely have the necessary resources to effectively address. Therefore, to protect and help organisations get back to business following a breach, Zurich has developed ‘Security and Privacy ‘ protection and ‘DigitalResolve’.
Zurich’s research highlighted that outside of the US global companies main cyber concern was their first party exposures as a result of a breach rather than their potential liabilities.
For this reason ‘Security and Privacy Protection’ coverage has been specifically developed to cover these first party exposures as well as cover for 3rd party liabilities and includes a new cover to provide loss of income following a data breach or damage to reputation.
‘Zurich Security and Privacy Protection’ also includes a global breach response service called ‘DigitalResolve’. Following a breach, Zurich clientswill be provided with a single dedicated Incident Manager, with 24/7/365 availability to manage the resources needed to recover from a damaging cyber event. The ‘DigitalResolve’ team of global trusted expert providers, co-ordinate and triage the cyber-attack incident response from it’s first notification right through to it’s successful conclusion. ‘