Frequently Asked Questions
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What is Cyber Insurance?
It is an insurance product that enables individuals and families to shift the costs involved with the recovery from being 'hacked' or a cyber-related attack. With the Cyber Insurance Plus policy you will be covered for expenses related to a cyber event such as identity theft, fraudulent money transfers, cyber bullying or even extortion and ransomware.
Do I need a personal cyber insurance policy if I already have antivirus software or other cyber security products?
Cyber insurance is NOT a replacement for cyber security tools and antivirus software, they are two different kinds of protection. Our Cyber Insurance Plus coverage is there to support you when the antivirus software couldn't protect. A cyber insurance policy is your personal fail-safe for if and when a breach or cyber attack occurs and you are left with significant cleanup costs to restore your devices or reclaim your digital and financial identity.
Why is a personal cyber insurance policy important?
As technology has become increasingly integrated into people's lives, the risks that sensitive personal information could be compromised has continued to rise. The theft of personal data can have financial consequences, with the costs of cyber crimes affecting individuals costing thousands of dollars. Having a Cyber Insurance Plus policy will mean you aren't alone, and will provide you crucial support at the time of a cyber breach.
What is a cyber attack or cyber breach?
A cyber attack is when cybercriminals gain illegal access to your personal data. These attackers seek to inflict damage to a person's reputation, disable assets and steal valuable data. Anyone can be at risk of a cyber breach, exposing sensitive, confidential or protected information. In general a cyber attack happens due to weaknesses in technology or user behavior. Not only are our wireless phones and computers vulnerable to a cyber breach, many “smart devices” and new IoT technology have gaping flaws, like lack of encryption, allowing hackers to take advantage.
How does personal cyber insurance work?
The Cyber Insurance Plus policy will provide financial reimbursement for the costs associated with the theft of your personal information and assets up to the limits on your policy.
Who is vulnerable to a cyber attack?
Anyone who is involved in the ever-evolving digital world. This means if you have a mobile phone, your home has internet and computers, children playing on connected devices, kitchen appliances, electronics and automobiles that have wireless online connectivity, all are potential threats that leave you and your home vulnerable to a cyber attack.
Who should purchase a personal cyber policy?
Anyone 18 years or older that is online and involved in the digital world. As we have come to depend on the internet and our homes are part of the hyper-connected world, we are exposed and vulnerable to costly and dangerous cyber attacks.
The coverage examples described here are hypothetical claim scenarios and are intended to show the types of situations that may result in claims. These scenarios are not based on actual claims and should not be compared to an actual claim. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law.
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