Our Cyber insurance for Commercial SME provides protection against computer attacks, employee error, network failures and data breaches
Cyber insurance provides cover for events such as computer attacks, mistakes made by employees, network failures and data breaches. When things like this happen they can completely paralyse an organisation by bringing down the information infrastructure or cause damage to a company’s reputation. In turn, this can seriously damage relationships with clients, suppliers and regulators.
Tokio Marine Kiln’s bolt-on cyber insurance is designed to enhance existing policies that clients hold (such as property or liability insurance) to give them protection against a wide range of cyber-related risks. The product is aimed at small to medium sized businesses.
Our cyber insurance can easily be added onto existing policies written under the Binding Authority Agreement. All you need to do is provide the following information to your Lloyd’s broker:
1. Sample Bordereaux2. Revenue range of Insureds3. The Insureds’ industry categories
We will work with your Lloyd’s broker to extend the permissionsunder the binder and this can be finalised in a matter of weeks.
Particularly suited to
Business interruption
Loss of gross earnings and extra expense, caused by either a mistake in the use of or a security breach of the Insured’s computer system.
Companies whose business income depends on an available IT infrastructure, e.g. online retail, manufacturers, utilities, financial institutions or trading systems.
Digital asset destruction
Costs to restore or recreate data caused by either a mistake in the use of or a security breach of the Insured’s computer system.
Incident response expenses
Costs to manage a data breach including IT forensic costs, public relations and legal expenses as well as the cost of notifying customers of the situation and providing credit or monitoring to them.
Any company that maintains personal information (customer or employee) including financial services firms, healthcare, retailers and other B2C companies.
Regulatory defence and penalties
Fines & Penalties resulting from a regulatory action following a security breach of the computer system or a breach of privacy.
Payment card fines and expenses
Fines and expenses that relate to credit card breaches from non-compliance with payment card industry data security standards.
Any company that accepts credit cards as a form of payment.
Security and privacy liability
Damages and defence expenses from a legal suit which the Insured is legally obligated to pay as a result of a security breach or privacy breach.
Any company storing personal and/or confidential information.
Multimedia liability
Liability and defence costs incurred as a result of infringement of offline/online media.
Companies who publish and advertise online and offline media content as part of business operations.
Privacy breaches that are not linked to or triggered by a computer or electronic data breach, so customers are covered for paper file or other privacy breaches
Costs to notify customers following a data breach, even where not required by law
The maximum business interruption indemnity period is up to the date of full system restoration and up to 30 days thereafter
Business interruption triggers include:
Power failure if the power supply is under the direct operational control of the Insured
Administrative error in the operation of the computer system
No retroactive date
Automatic 30 day ERP available
Duty to defend clause
Access to dedicated 24 hour emergency hotline for all
policyholders following discovery of a cyber incident.
Our coverage is available globally with the following limits
Maximum limit
CAD25,000 or CAD50,000
Fixed deductible
CAD2,500
Tokio Marine Kiln is a leading international insurer with a reputation for specialist underwriting excellence, great people and innovative products. As part of one of the largest insurance groups in the world, our underwriters are empowered to assess each individual risk, to make on-the-spot decisions and to find the right solutions for our clients’ needs.The ability to settle valid claims quickly and fairly in a human way is central to our business philosophy, and our adjusters are empowered to exercise their professional judgement to deliver an exceptional customer service.
Tokio Marine KilnAuthorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number: 204909. Registered office is located at 20 Fenchurch Street, London EC3M 3BY Registered Number: 729671. Tokio Marine Kiln is a trading name.
