Willis Towers Watson
What is it?
Cyber insurance delivers protection for an organisation in the following ways:

Privacy protection:
– Third party and employee privacy liability for damages and claims expenses
    as a result of a privacy breach
– Privacy regulatory defence and penalties
– Notification expenses to notify victims of privacy breaches
– Forensic costs to contain a breach and carry out the necessary forensic
   audits following a breach
– PR expenses to help limit the reputation impact following a security breach
– Credit monitoring costs to monitor the victims credit history for
   fraudulent activity
– Payment Card Industry (PCI) fines
– Reputational risk extension as a result of a data breach
   (case by case basis)

Plus other Cyber Liability coverage includes:
– Network Security Liability for damages and claims expenses the insured
   is legally obligated to pay, as arising out of computer attacks caused by
   failure of security
– Negligent transmission of a virus: damage to customers' computer
   systems and/or data
– Multimedia Liability, Intellectual Property Infringements and Libel and
   Slander due to email or website content

Loss of digital assets including non-physical business interruption:
– Data/Electronic information loss: The costs to restore data that has been
   lost or corrupted
– Indemnification for loss of revenue following unplanned system outage
   and increased cost of working
– Cyber extortion coverage: Covers both the costs of investigation
   and the extortion demand amount related to a threat to commit a
   computer attack
– Cyber terrorism coverage (case by case)
Who should consider buying this insurance?
The nature of a business/industry will determine the cyber risk profile but any company that stores personal data, is reliant on computer or telephone networks, digital information or the internet, faces these exposures; this means just about every business in the world today.
How do we add value?
As in all areas of risk management, buying insurance is only part of the puzzle. What is really needed is strong exposure identification, policy wordings tailored to individual needs, and communication about exposures within their organis ation. The e-s olutions experts within our Professional Risks team can help put the pieces in place.

We offer our clients:
– Specialist knowledge enabling us to design innovative programmes
   reflecting the business needs of our clients
– A consultative approach whereby we fully analyse your cyber exposures
   before proposing the most appropriate solution
– Exclusive wordings that can go beyond 'off the shelf' solutions
– Experience in handling claims in this area, one in four FINEX Global
   associates is claims focussed, working to ensure our clients claims
   are dealt with appropriately
– Market leverage due to the significant amount of premium that we place
   in the market
–The Willis Towers Watson ‘One Flag’ approach giving access to our expertise in all of
   our offices around the globe, essential for organisations that are subject
   to international data protection laws
– Up-to-date information on the latest cyber trends via our e-newsletters,
   seminars and work shops to keep our clients up-to-date

We have a number of core initiatives which provide tangible value to our clients' risk management process including:
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