Zurich Cyber Insurance Policy
Why choose Zurich cyber insurance policy
Zurich’s policy for large and global companies includes a broad range of Cyber coverages to help businesses manage the financial, legal, and reputational risks posed by cyber threats, including: security and privacy liability coverages, regulatory proceedings defense costs coverage, civil fines and penalties associated with regulatory proceedings, payment card industry (PCI) and the General Data Protection Regulation (GDPR)1 media liability coverage, breach costs, business income loss and dependent business income loss., including system failures, cyber extortion payment and extortion expense, digital asset replacement expense, reputational damage income loss, other coverage enhancements available by endorsement, such as bricking, cryptojacking, and telecommunications fraud.
Zurich Cyber Policyholders: Need Immediate Assistance?
If your organization is experiencing a cyber incident, access Zurich’s cyber claims reporting and incident response resources.
Cybersecurity: Resources for resilience
Cyber Risk Engineering Services
The Zurich Resilience Solutions Cyber team can help with services such as:
- Cyber Risk Gap Analysis and Strategic Roadmap to resiliency
- Incident Response Plan Evaluation and Tabletop Exercises
- Ransomware Threat Assessment
- Employee Cybersecurity Awareness Training (including phishing and social engineering awareness)
- System Penetration Testing
- Pre-breach Assessments
Cybersecurity and breach response vendor resources
When helping your company respond to and recover from a data breach, Zurich claims professionals may recommend specialized solutions through referral arrangements with privacy and breach counsel – also known as a breach coach - as well as forensics and other cybersecurity vendors.
A breach coach will often act as project manager for an overall response team consisting of experts in cybersecurity and technology. The team will assess the best course of action to address a cyber event.
Cyber risk mitigation services
To help you mitigate cyber exposures and strengthen resilience, the Concierge Suite includes the following resources, at no additional cost:
Zurich Resilience Solutions Cyber onboarding session
eRiskHub Portal®
Zurich Risk Advisor
Additional services are available on a discounted fee basis from SpearTip, a company of Zurich, which includes:
Prepare
Enhanced cybersecurity through expert guidance in strategy, risk management, and threat prevention.
Monitor
Real-time SOC monitoring detects and responds to threats to protect data, reputation, and revenue.
Respond
Rapid incident response mitigates breaches, minimizes damage, restores operations, and finds root cause.
FAQs
Cybercriminals are becoming more aggressive and innovative every day, increasing the threat environment for companies of all sizes and industries. A major, 2022 cybersecurity industry survey1 reported:
- 83% of companies surveyed reported at least one data breach
- $4.35 million was the average total cost of a data breach
- 11% of attacks were from ransomware, averaging $4.54 million per event
From malware attacks and social engineering scams to data breaches via the Internet of Things and mobile devices, what all cybersecurity events have in common is that they are more than challenges to network security. They are full-blown risk management threats that demand innovation, resilience, and holistic solutions to mitigate against the significant, potentially long-lasting damage from a hack or data breach on your company. Following a hack or data breach, companies are also vulnerable to class action litigation and investigations from regulatory agencies.
1. Cost of a Data Breach Report 2022. IBM Security
