Cyber Liability and Privacy Protection

In the current digital era, businesses are more interconnected and dependent on information technology than ever before.

Businesses today face increasing risks and financial consequences from cyber threats. Cyber insurance helps transfer costs from data breaches, ransomware attacks and other cyber incidents.

Our Cyber Liability and Privacy Protection policy provides the following key coverage elements:

1. Third Party Claims: Claims brought against the insured alleging a privacy breach or other failure of network security, including cover for damages and legal representation. Coverage also extends to regulatory investigations and resulting fines and penalties.
   
2. Business Interruption: Cover for lost profits resulting from a system outage, as well as necessary expenses incurred to maintain normal operations.
3. Response Costs: Reimbursement of the insured’s immediate expenses for managing an incident, including:
   -    IT forensic costs; 
   -    Legal expenses;
   -    Public relations expenses;
   -    Credit monitoring and identity theft prevention services 
   -    Costs incurred to restore or replace affected data and software
   
4. Cyber Extortion: costs to engage specialists to assist in managing a cyber extortion or ransomware incident, and reimbursement for ransoms paid.
5. Social Engineering, Phishing & Cyber Fraud: Cover for lost funds and other associated expenses resulting from direct theft via electronic means, Social Engineering, Phishing, Phreaking, Botnetting and Cyber Fraud.

Enhanced Cyber Coverage for Australian business

DUAL also includes several carefully tailored additional enhancements and extensions beyond these commonly available cyber insurance covers, ensuring we can offer our clients the broadest possible coverage and support.

Key extensions include:

• Triggers for covered events affecting both on-premises and third party or cloud hosted systems
• Cover for Business Interruption losses triggered by human error and system failure 

Further detail on the specialised benefits available within our wording can be found HERE.

Dedicated and Experienced Incident Response and Claims Service

Knowing who to call when a cyber event occurs is critical, so every DUAL cyber policy also comes with access to hotline support provided 24 x 7 through our dedicated incident response team, CIMT – and backed by a panel of specialist service providers.

All DUAL insureds also receive the benefit of claims support from DUAL’s experienced in-house claims team based in Australia.

Click here to find out more about our Claims Service.

If you need to notify an incident, contact the Cyber Incident Management Team (CIMT).

P: 1300 004 880 or  P: +1 844  502 9237
E: cyber.incident@canopius.com

DUAL's Appetite

Every business is exposed to cyber risk, so we now have over 900 occupations available through the WebRater for quoting Cyber!

DUAL offers a simple and straightforward method of obtaining cyber insurance terms through our online WebRater portal for organisations with revenues of up to $50m, and for limits of up to $2m.

Through our cyber underwriting specialists we also offer:

• Primary cyber insurance limits of up to $5m for organisations with annual revenues $50m - $350m
• Excess limits of up to $10m for organisations with annual revenues up to $1b

Our target industry appetite includes:

• Professional Services – Architects, Accountants, Legal Services, Real Estate, Consultants
• Labour hire / Recruitment
• Retail / Wholesale / Importing – including online retail
• Manufacturing
• Mining
• Advertising and Marketing
• Design
• Construction
• Software Development and Sales
• Trade Services – Builders, electricians, plumbers, carpenters
• Not for Profit and Religious Organisations
• Medical Centres

For more information, contact your local Underwriter; or reach out to our Cyber Insurance specialists, Ciaran Morrissey or Samuel Rogers.

Further detail on our current Cyber insurance appetite can be found HERE.