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Cyber Liability, Crime, Financial Risks & Insurance of the Person





Cyber Liability and Crime


Crime Cover    

A crime policy protects you from losses arising from business-related crime. This can include crimes committed by your employees, and also crimes committed by external parties to your company. Policies can also respond to emerging issues such as the risk of committing a crime overseas regarding worker conditions.

Cyber Liability

Companies are increasingly at risk from issues arising out of their use of or reliance on electronic systems and data. This insurance can provide cover on both a first-party (i.e. a company’s own loss) and third-party (i.e. payment to parties claiming against the company) basis. Third-Party insurance will typically provide coverage for your legal liability for claims made against you as a direct result of a cyber-attack whilst first-party coverage will cover costs of your own business in responding to a cyber event and any resultant loss of profit.


Financial Risks


Computer Fraud    

This is a particular coverage for the theft of money or property transferred by a computer from the Insured’s premises. However, this generally does not cover theft of information (which could be covered under a Cyber policy), or computer vandalism.

Kidnap & Ransom/ Special Contingency Risks    

Kidnap & Ransom is a specialist form of crime coverage, insuring against loss by the surrender of property as a result of a threat of harm to a named insured or employee. Special Contingency insurance can cover a broader range of threats, including extortion, hijack, detention etc. Often a key part of the service for these covers is expert assistance in the event of an incident or threat. This can also be an important part of ensuring that the Company is fulfilling its duty of care to employees by providing a safe place of work.

Product Extortion    

A company becomes a victim of product extortion when a threat is made to damage, destroy or contaminate its products unless a payment is made. As well as the ransom payment, cover can include paying for expert advice, loss of the ransom in transit, and actions taken to protect the reputation of the company.

Trade Credit    

This insurance protects your company against the failure of customers to pay trade credit debts owed to you, generally as a result of protracted default, insolvency or bankruptcy.


Insurance of the Person


Death in Service    

This cover provides a payment, generally as a tax-free lump sum, if an employee dies while working for the employer. A bereavement service for relatives is often included as a benefit.

Group Personal Accident & Travel    

Personal Accident and Travel policies are often combined into a single policy. Personal Accident provides payment when there is a serious injury to an employee, while Travel covers employees on business travel, generally on a 12-month multi-trip basis. Often assistance and crisis containment can be included in services as well as the core insurance cover.

Income Protection    

This cover provides a financial benefit, as well as rehabilitation support if an employee is unable to work for an extended period because of illness or injury. As such it is both an employee benefit, and also helpful for the company in managing and minimizing the absence.

Key Person Assurance    

This is a form of life insurance bought by the business covering a key individual to offset a loss of earnings in the event of his or her death. It can also provide funds to find, hire, and develop a replacement. It is designed to cover losses such as reduced sales, interruption of a vital project, the flow of production, etc.

Personal Accident and/or Sickness    

Personal Accident Insurance provides payment when a serious injury is suffered by an employee, while Sickness can provide cover for the Company when an employee is absent for a length of time due to illness.

Private Household and Motor    

These insurances cover individuals’ property, rather than that of the Company. When buying insurance it is important to be clear which property is covered under a company’s policy vs personal insurances bought separately.

Private Medical    

Often a key benefit for employees, this can be bought on a Company basis, at numerous different levels, to cover employees for Private Medical expenses.




Chancel Liability     

If you are a landowner you may have a legal obligation to contribute to the repair of an Anglican parish church. This insurance provides cover in the event such a payment is required of you.

Credit/ Supplier Default    

Also known as Advanced Payment Protection, this insurance covers payments made to suppliers in advance of receiving goods or services, against the default of the supplier. The cover can be set up for individual named suppliers, or to cover a range of suppliers.

Hostile Takeover    

This provides cover against the various direct costs associated with defending against a hostile takeover. Fees covered can include various legal fees, investment bank fees, as well as public relations

Intellectual Property    

Intellectual Property insurance covers copyright, trademark or patent infringement claims arising out of your company's operation. It can cover defence costs and any judgement, and also provide funds for pursuing claims against infringers. Generally, to take out insurance you will need to show that you are not aware of any existing infringement.

Latent Defect    

Latent Defect provides cover for parties such as owners or developers who have an interest in the property and provides cover in the event of an inherent defect in the design, workmanship or materials becoming apparent after practical completion. It is typically available for between 5 and 12 years from the date of the final certificate or practical completion.

Loss of License    

Designed for companies that require a license for music or alcohol to operate their business. This insurance can provide cover for financial losses incurred when such license is withdrawn.

Miscellaneous Contingencies (include Defective Title, Restrictive Covenants, Chancel Liability)    If there are other areas where you think your business is exposed these can be discussed and appropriate insurances may be available. There are several specific miscellaneous types of insurance available, including but not limited to:
Defective Title: provides cover where there is potential for a third party to attempt to establish title right over the property owner’s title to a property
Restrictive Covenants: required where the use, or proposed use of property breaches known or unknown restrictive covenants

Reputational Damage | Crisis Containment    

This can cover lost profits or revenue following an adverse reputational or media event, and/or costs associated with trying to counter or contain such an event. Such reputational events could include adverse media coverage, employee negligence, celebrity endorser disgrace, supplier disgrace, perceived or actual product quality issues, etc.

Warranties and Guarantees    

Where warranties or guarantees are required for projects, these can be insured. This can include structural warranties, and guarantees around the performance of particular aspects of a project.

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