AssuredPartners London

Is a cyber attack covered under my Professional Indemnity policy?

Many professional indemnity policies will provide some insurance cover in the event of a cyber-breach, but there may be significant gaps, including:
• Cover for loss of employee and partner information;
• Breach investigation expenses, including specialist independent legal advice, forensics and IT security expertise;
• Costs incurred by the firm to notify affected individuals, to offer appropriate credit and ID monitoring services and to hire appropriate public relations expertise;
• Cyber extortion expenses incurred to end a credible extortion threat;
• Reimbursement of data and computer programme restoration expenses; Consequential loss of revenue resulting from a network interruption.
Therefore, we will always advise our clients that we believe a standalone Cyber policy is the best way to ensure maximum protection, whilst trying to alleviate any coverage overlaps or ambiguity.

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