Cyber insurance

The final step in sound risk management

Many organisations lack the security required to protect themselves from cybercrime. Intermont recognises this as follows:

  • Despite the increase in cybercrime, Intermont offers coverage for cyber risk.
  • During the underwriting process, Intermont makes a healthy critical analysis of the risk applicable.
  • Intermont has an extensive network of specialists who are able to contribute to effective incident management.
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24/7 availability is a must for victims of cybercrime

Cyber criminals do not limit their activities to office hours. Therefore our incident management team is available 24 hours a day, 7 days a week for insured who become the victims of cybercrime. Close consultation between Intermont, the broker and the insured, is vital at times like this.

We are keen to draw on our knowledge and experience of cybercrime to help keep the consequences of cyber incidents to a minimum.

Cyber insurance includes different types of cover. For example:

  • The cost of incident management
  • Business interruption loss
  • The cost of data recovery
  • Reputational damage
  • The cost of new hardware and software
  • Claims from third parties
  • The cost of defence
  • Administrative fines
  • Ransom payments

Some cover elements depend on the risk profile, while other costs will only be covered if they have been agreed with us in advance.

Proper cyber risk insurance requires an in-depth analysis

To avoid organisations underinvesting in security, Intermont makes a healthy critical risk analysis of the following points during the underwriting process:
  • Data encryption
  • Multi-factor authentication
  • Employee awareness and training
  • The presence of policy, protocols and supervision of compliance with all of these
  • Hardware and software set-up, including the security measures taken
  • The quantity of personal data involved (specific attention for medical data)

Who to contact for more information

Brokers and risk carriers can contact us directly to find out more about the types of cyber insurance we are able to offer.

Individual insured should contact their brokers first.