CYBER RISK INSURANCE
The threat posed by cyber security risks to organisations is growing at an increasing rate. The financial losses or reputations lost by organisations of different sizes from all over the world as a result of cyber-attacks are increasing and this creates concern in the business world. As digital technology has become an indispensable part of corporate and social life, cyber risks will continue to spread in parallel with the speed of these technologies. Every person and institution that processes and maintains electronic data, regardless of mobile device, computer, server or online, is faced with this risk. The fact that Turkey ranks 8th among the countries subjected to cyber-attacks reminds us that we need to pay more attention to the increasing cyber risks every day.
What is Cyber Risk Insurance?
Cyber Risk Insurance covers damages that may arise due to breach of personal or corporate data, loss of net profit that may arise from attacks on network security or disruptions due to network interruption, expenses to be incurred to prevent such situations from causing loss of reputation, etc. It covers damages arising from many risks.
Cyber Risk Insurance Coverage
Data Loss
Network Security Violation
Unauthorised Use of Computer System
Denial of Service Attack
Malicious Software
Data Corruption
Loss of Profit
Defamation, Plagiarism and Infringement
Insult or injury, defamation, libel, slander, calumny, disparagement of work product, trade defamation, moral damage, improper registration or wrongful eviction, trespass, wiretapping, false arrest, malicious prosecution, gross misconduct or abhorrent behaviour of the insured against the reputation or personality of any person or entity
Breach of Confidentiality and Abuse of Trust
Malicious Software, Denial of Service and Unauthorised Use
Virtual Blackmail Costs
Damage in Cyber Insurance
In order to be subject to damage, a cyber-attack must first be experienced. The cases to be covered without a cyber-attack are the cases that may be subject to Personal Data Protection Law and Administrative Fines and data loss due to employee error.