To deliver a different kind of cyber protection combining expertise, resiliency and accessibility for small businesses.
Cylo has blended proprietary cybersecurity technology (Resist) with insurance know-how (Recover) and an end-to-end incident response and claims management service (Respond).
First-party coverage offers protection directly to the insured business.
If there is damage to the policy holder’s computer systems due to malware or a Cyber Event, we will pay the costs incurred in retrieving, repairing or replacing the computer system and/or any computer records that were on the computer system.
If there is business interruption as a direct result of a Cyber Event, we will cover losses incurred after 12 hours.
We will pay for any Personal Reputation cost to the Policyholder, incurred as a direct result of a Cyber Event that has impacted the reputation of the Policyholder’s staff.
This cover is not available for CyberGo.
We will pay for any Public Relations Costs incurred to avert or mitigate damage to the Policyholder’s reputation or its commercial brands caused by a Claim, Cyber Event or Loss that is covered under this policy.
This cover is not available for CyberGo.
We will cover Cyber Extortion costs arising from a security threat first made against the Policyholder. This will include paying a ransom if ransomware is activated on the Policyholder’s computer systems. Any costs will only be paid in accordance with applicable laws, and will be paid under the direction of, and be subject to, the cooperation with any relevant criminal enforcement or other authority.
We will cover any reward expense paid to a third party for information leading to a conviction of an indictable offence arising out of a Cyber Event.
We will cover Privacy Breach Costs incurred as a direct result of a Claim, Cyber Event or Loss.
We will cover, to the extent we are permitted to by law, any fine or penalty payable as a direct result of a breach of the policy holder’s privacy obligations and/or regulatory investigation.
Covers loss as a direct result of Social Engineering, Phishing or Phreaking.
This covers loss by reason of transferring, paying or delivering any funds or property, establishing any credit, debiting any account or giving any value directly caused by the fraudulent input, fraudulent destruction, or fraudulent modification of electronic data.
*Available as an option only for CyberSecure & CyberPlus.
Third-party coverage provides liability protection against potential damages caused to another party.
We will pay all sums which the policyholder becomes legally obliged to pay due to a breach of Personal, Commercially Confidential, Employee information and Information Outsourced by the Policyholder. This includes defence costs and any liability for claimant’s costs and expenses if ordered by the court.
We will pay all sums the Policyholder becomes legally obliged to pay as a direct result from a Hacking Attack or Virus or the loss or theft of data that has passed through the Policyholder’s Computer Systems or prevents access to Computer Systems by Third Parties authorized by the Policyholder to gain such access.
We will pay for all sums incurred from defamation, invasion of privacy, plagiarism or infringement of copyright arising directly from, Internet and Email Content, Promotional Material orThird-Party digital content downloaded, shared or distributed from the Policyholder’s Computer Systems.
We will pay for all sums incurred as a direct result of a breach, by or on behalf of the Policyholder, of any statutory duty relating to the security or management of information collected or created during Electronic Commerce.
This insurance product is distributed by Cylo Australia Pty Limited ABN 29 666 378 909 Authorised Rep No. 001303389 (Cylo), an authorised representative of IAG Agencies Pty Limited, ABN 11 147 749 139 AFSL 471282. Cylo acts as agent of the issuer Insurance Australia Limited trading as CGU Insurance ABN 11 000 016 722 AFSL 227681, pursuant to a binder agreement.