Hiscox CyberClear®
Cyber and Data Risks
Hiscox
CyberClear®
Cyber and
Data Risks
What is Cyber insurance?
A targeted hack or simply a lost laptop could result in a company incurring various costs and expenses. A cyber policy is designed to cover privacy, data and network exposures and provide peace of mind. Whether it is sensitive client or employee information, there are increasing expectations that this information is secure. The list of regulations and statutes regarding the use and protection of this information, and notification in the event of a breach, continues to expand.
The Hiscox Cyber Readiness Report 2018™ reveals the average annual cost of all cybercrime incidents for large US businesses was $1.05 million.
Small businesses have a major need for Cyber coverage too. Read more about in our new Small Business Cyber Risk Report™.
Our Cyber product is broad in coverage and contains a simple insuring agreement covering a wide range of classes.
- Primary – SME businesses with <$1bn annual revenue.
- Excess – all US businesses, all revenue sizes, simple one-page follow form.
- Target industries (primary and excess): all industry classes except depository financial institutions and payment processors.
$10M capacity on primary or excess basis
- First-party and third party liabilities arising from a data breach event
- Defense cost and indemnity covered, as permitted by law, whether it’s a claim for a statutory violation, regulatory investigation, negligence or breach of contract
- Provides full limits for forensic costs incurred in the defense of a covered claim
- Provides full limits for credit or identity protection costs as part of a covered liability judgment, award or settlement
- Both negligence and breach of contract claims arising out of a breach of credit card details, including PCI Fines and Penalties and PCI Assessments ensuing from the breach of a merchant services agreement
- Both complimentary pre-loss breach prevention services (Breachprotection.com) and complimentary breach responses services, including one hour with a data breach coach to assist you in responding to a breach event (Hiscox eRisk Hub®)
- Cyber Business Interruption provides a minimum hourly amount for a covered business interruption loss, with coverage for additional loss amounts available upon our review of supporting receipts
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Related products
Package Cyber with the following products: Allied Healthcare, Architects and Engineers, Miscellaneous Professional Liability, Media Liability, Management Liability, General Liability, Crime, and Technology
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Claims scenarios
Not sure what risks our product covers? We’ve brought some scenarios to life.
Risk management
We partner with leading risk management services to ensure our clients have support and guidance, in addition to exceptional coverage.
Key contacts
News and insights
We have a team of experts across the industry. Read their latest advice, find useful thought leadership, and discover industry news.
The 2018 Cyber Readiness Report
The Hiscox Cyber Readiness Report 2018™ reveals the average annual cost of all cybercrime incidents for large US businesses was $1.05 million.
Beware ransomware
Ransomware is one of the fastest growing cyber risks. Find quick stats now.
The 2018 Cyber Claims Report
Hiscox has dealt with over 1,000 cyber related insurance claims from businesses over the past 12 months alone. What's been the single biggest cause?
Cyber 101
This introductory guide will help one become more knowledgeable on cyber risks, coverage, and industry terminology.