Cyber Crime Insurance

What is Cyber Crime Insurance Insurance?

Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities.

What’s covered

First Party Costs

  • Network Business Interruption – A computer system failure or breach of network security leading to income loss and expenses incurred during the period of interruption
  • Restoration Costs – Expenses to restore information/data after a failure of the computer system or network leading to destruction, corruption or loss of electronic information assets and/or data.
  • Regulatory Defence Costs – Defence costs of regulatory action due to breach of privacy regulation. Cover may include fines and penalties due to breach of privacy regulation.
  • Security and Privacy Liability – Investigation costs to determine cause and extent of security failure. Cover may include fines and penalties due to breach of privacy regulation.
  • Cyber Extortion – Costs and expenses related to threats or extortion after the release of confidential information or breach of computer security.
  • Intellectual Property – Value of trade secrets stolen through a cyber-attack.
  • Data Breach – Compensation of third party liability claims related to the disclosure of confidential commercial and/or personal information (privacy), as well as economic harm suffered by others from a failure of network security.
  • Crisis Management – Costs and expenses associated with managing a cyber event (e.g. a privacy breach), which may include forensic investigation expenses, call centre costs, credit monitoring costs and public relations costs.

Third Party Costs

  • Data Breach – Compensation of third party liability claims related to the disclosure of confidential commercial and/or personal information (privacy), as well as economic harm suffered by others from a failure of network security.
  • Crisis Management – Costs and expenses associated with managing a cyber event (e.g. a privacy breach), which may include forensic investigation expenses, call centre costs, credit monitoring costs and public relations costs.

What’s not covered

  • Cyber Insurance will not duplicate a Financial Institutions Financial Lines programme so it does not typically provide cover for Professional Liability – claims resulting from the failure to provide professional services to your customers and clients; and Financial Crime – theft of your own or customer/clients assets/money
  • Money Transfer – Covered under the Financial Crime Policy
  • Market Fluctuation
  • State sponsored activity/ espionage
  • Most Insurers prefer to utilise their own wordings, so conditions and exclusion can vary. Natural catastrophes – A landslide causing damage to an organisation’s power source, the resulting losses may not be included under a standard Cyber Policy.

What’s optional

Choose optional add-ons at an additional cost to create cover that suits you.

  • Political Violence and Terrorism: Cover against political violence and terrorism

Goldstar claim process

No matter what your worry is, we’re here to help
explain the process, assess your claim fairly
and minimize the disruption to you with a transparent claims process.
Read More

How to make a claim

We have a number of options to help you make a 
claim quickly and effectively. Contact our dedicated claims team for advice on
an incident/claim.
Read more

Why choose us ?

Goldstar Insurance was IFM’s Best Insurance
Company in Uganda (2015) and has over
 the years consistently maintained a Global A+ Credit Rating
Read more

Other types of insurance cover

All Risks Insurance

The widest cover for properties against loss or damage caused by any accident or misfortune ………….

Read More

Buglary Insurance

Provides compensation when a property suffers loss caused by theft when accompanied by forcible breaking into.

Read More

Electronic Equipment Insurance

Cover your property against loss or damage caused by any accident or misfortune

Read More

2016 Global Business Outlook Award

Best insurance company in Uganda

2015 International Finance Magazine Award

Best insurance company in Uganda

A+ Global Credit Rating Co

Your expert local insurance partner

Easy Claim

Easy claim procedures with no hassle

Save Your Money

Host of discounts – No claim bonus, Discount for Automobile

Instant Online Policy

Host of discounts – No claim bonus, Discount for Automobile.

INSURANCE POLICY

FAQ's

How do I cover items that I take away from the home?
What is accidental damage cover?
Are items in my garage or shed covered?
I live in rental accommodation. Do I still need insurance?
What is an excess?

Tips

  • Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
  • Always keep valuables safely and locked out of site to protect against the risk of theft