Specialised Cyber Risks Section

Cyber Liability Cover


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Cyber Insurance

Businesses are using the Internet and electronic communication to transact their business now more than ever. The internet, e-commerce and web communication is growing as a means of marketing, advertising, maintaining customer’ relationships and interacting with them at the same time. But, it has opened up a whole new set of risks that businesses now face. Traditional insurance policies may no longer cover the risks to which businesses and clients are exposed. Insurers’ understand and have been insuring these risks for the last decade. A Cyber Insurance (or Cyber Liability) policy can cover these risks and work in tandem with traditional property and liability insurance policies. As the legal climate evolves along with the Data Protection Act and changing privacy laws in Ireland, the high litigation costs for cases against copyright infringements, trademark disputes, virus transmissions, theft of data etc., all combine to make Cyber Insurance a cover which businesses cannot afford to be without, particularly if they:

  • hold sensitive customer details such as names and addresses or banking information
  • rely heavily on IT systems and websites to conduct their busines
  • process payment card information as a matter of course


Cyber Insurance covers the losses relating to damage to, or loss of information from IT systems and networks. Policies generally include significant assistance with and management of the incident itself, which can be essential when faced with reputational damage or regulatory enforcement. Generally cyber risks fall into first party and third party risks.  Insurance products exist to cover either or both of these types of risk.


First-party insurance covers your business’s own assets. This may include:
  • Loss or damage to digital assets such as data or software programmes
  • Business interruption from network downtime
  • Cyber exhortation where third parties threaten to damage or release data if money is not paid to them
  • Customer notification expenses when there is a legal or regulatory requirement to notify them of a security or privacy breach
  • Reputational damage arising from a breach of data that results in loss of intellectual property or customers
  • Theft of money or digital assets through theft of equipment or electronic theft


Third-party insurance covers the assets of others, typically your customers. This may include:
  • Security and privacy breaches, and the investigation, defence costs and civil damages associated with them
  • Multi-media liability, to cover investigation, defence costs and civil damages arising from defamation, breach of privacy or negligence in publication in electronic or print media
  • Loss of third party data, including payment of compensation to customers for denial of access, and failure of software or systems

What Our Clients Are Saying

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    David Faughnan CIP, Director

    You can contact via phone below or click on photo to email directly 01 8245555


    Elisa McKenzie CIP QFA

    You can contact via phone below or click on photo to email directly 01 8245555