As an insurance market, Lloyd’s can provide access to the combined scale, expertise and capacity of more than 77 expert cyber risk insurers in one place. It is this ability to create relevant and tailored insurance solutions from the diversity of the market that sets Lloyd’s apart.

  • Breach Response

    A data breach can have serious implications on the operations and reputation of an organisation.

    A Data Breach Response Policy goes beyond a traditional liability insurance policy. It also provides a service which helps organisations manage the aftermath of a breach as well as providing coverage for the costs of notifying clients, forensic investigations, credit monitoring for customers, legal costs and public relations services to help manage any reputational harm.

  • Liability

    Liability claims from a data breach can be costly to organisations.

    This policy provides coverage for third party claims and associated defence costs arising out of a data breach.

  • Regulatory

    A data breach can also lead to significant regulatory fines and penalties. This is set to rise under an increasingly stricter regulatory landscape.

    This policy provides organisations with coverage for the defence costs associated with regulatory investigations, to the extent insurable by law.

  • Extortion

    Ransom demands and malicious threats are on the rise.

    This policy provides coverage for the costs in relation to restoring the organisation’s affected systems.

  • Business Interruption

    Cyber incidents can lead to significant loss in revenue and bring business operations to a halt.

    This policy provides coverage for the income loss resulting out of interruption to, or downtime of, an organisation’s IT system. It also provides assistance in restoring the data, network and IT system.

  • Reputational Harm

    Cyber incidents can have detrimental effects on an organisation’s reputation leading to loss of revenue.

    This policy provides coverage for financial losses incurred from loss of contracts due to a cyber incident.

  • PCI DSS Assessments and Fines

    Organisations affected by breaches involving payment card data are exposed to PCI related fines and PCI DSS assessments.

    This coverage deals with costs relating to stolen card data, reimbursements of card reissuing costs and forensic investigations into the extent of the misuse of the card data.

These are examples of the coverage available through the Lloyd’s Market. Individual policies sold will be subject to their own terms and conditions and some types of cover may be excluded. It is important that you read your policy to ensure that it provides the cover you require.