Professional Indemnity Insurance Add-on: FPC

The additional “First-Party Cyber and Data Risks Insurance (FPC)” add-on protects you from the incalculable risks of hacking, DoS attacks or other internet crime (cyber crime).

Cyber & Internet Crime – the New Risks

As many advantages as the internet age and technologies such as cloud computing or SaaS offer, they have also opened new opportunities for hackers and criminals to abuse these new technologies. The “hacker's honour code” and simply uncovering security gaps are a thing of the past. Hacking is now a solid business. There is now a multi-billion dollar market for the trade in stolen information and personal data.

And in our experience, it’s not only large corporations that fall victim to hacking and unauthorised spying, but also smaller companies and freelancers.
Violations of data rights can also have a completely different cause, for example if a device or data carrier on which sensitive data is located is stolen or lost. The consequences are no less critical.

First-Party Cyber and Data Risks Insurance (FPC) Protects your Business

The insurance covers first-party claims related to hacking, DoS attacks, cyber extortion, computer abuse through malware and ransomware, theft of data carriers and any other data infringement. This includes, for example, costs in connection with the restoration or repair of your IT systems, the commissioning of external computer forensics analysts or specialised lawyers (including criminal defence) as well as crisis management & PR.

Additional costs for the quick elimination or avoidance of an interruption to your business are also insured.

The following damage is insured by the first-party cyber and data risks insurance:

• Hacking damage to your own IT systems
• First-party data rights claim (in particular spying on personal data)
• Expenses for an (imminent) interruption in business (additional cost coverage)
• Breach of trust damage (intentional damage to own IT by employees)

Specialty: Assumption of Costs and Crisis Management

The special thing about this add-on module is that it covers your own costs and additional expenses. This includes, for example, the commissioning of

• Computer forensics specialists
• Specialized lawyers
• Consultants to provide information to data owners
• Professionals for PR & crisis management
• Credit protection and monitoring services

as well as

• Costs for the use of third-party systems (in particular IT and computer systems)

The aim is to get you and your customers out of the dangerous situation with as little damage as possible

Sums Insured and Deductibles

In the you can choose between 50.000 euros, 100.000 euros or 150.000 euros per insurance year as the sum insured. The deductible per insured event is 1.000 euros.

The legally binding formulations can be found in the agreed insurance conditions.