PII – Changes to Cover in respect of cyber liability

What can you do? The cyber market has continued to develop over recent years in response to the rapidly changing nature and magnitude of the cyber related perils which now exist. As a result, there are numerous products on the market that will provide appropriately tailored and value for money cover for those firms that wish to understand, address and, where appropriate, transfer their specific exposures via an insurance product. Standalone cyber policies have the benefit of covering first party losses suffered by the company, business interruption costs, and claims from third parties. Given that cyber related liabilities do not traditionally sit within a PI insurance context, it’s our advice that you contact your general insurance broker to discuss your cyber exposures further and arrange for a quotation. We can arrange an introduction to our own general insurance division if that would be of interest. If you have any queries on your PI policy itself, please contact your usual Griffiths & Armour Account Handler. Alternatively, please submit your enquiry to Associate Director, Claire Meade.