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

  • Business Interruption
  • Hacker Theft (for stolen funds)
  • Restoration costs for data and programs

Other costs

  • Crisis management costs, including IT forensics, legal, and credit monitoring
  • Cost of notifying individuals
  • Reputational advice costs
  • Mitigation, betterment and
    emergency costs


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1) Cover may vary subject to local specifics.

For further queries, please contact Adeline Roupillard,
Allianz Global Corporate & Specialty SE
mysmartgate@allianz.com 

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Potential Partners

Potential partners/channels:

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  • Broker aggregators
  • Associations
  • Clients
  • Fintech players
  • Banks
  • Other Allianz entities

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