Allianz Cyber Protect Premium

Definition
Allianz Cyber Protect Premium¹ offers insurance for cyber liability, cyber business interruption, IT forensic costs and other cyber related covers to protect companies from malicious attacks, internal errors or unexpected technical failures.

Why is product relevant

The amount of data being generated, transmitted and stored is growing at an exponential rate, so are the malicious actors.
An attack or incident resulting in a data loss, business interruption or reputational damage could put a company out of business.
Cyber prevention is key and together with a cyber insurance, it provides protection, should the worst happen.

Who is exposed?

Companies holding large volumes of personal data (e.g. healthcare, retail)
And/or companies relying on digitalized technology processes (e.g. manufacturing, telecommunications, transport, media and logistics)
And/or companies exposed through business partners, contractors and supply chains

Who is eligible to raise a claim?

Any third party, employee or any client whose personal or confidential data has been compromised
Any insured whose business suffers a business interruption due to a cyber incident

What is covered claim?

Third party liability

Privacy and Confidentiality Breach liability (for client and corporate data loss)
Network security liability (for failing to secure your network)
Media liability (for digital publications)
Regulatory legal costs (for defense costs and fines and penalties)
Internal Investigation costs
PCI (Payment Card Industry) fines

First party loss