Brisbane City Council, August 2016

Cover for Social Engineering Fraud Loss is available up to $100,000 if selected when applying for cover.
In this event, the Council transferred money because a person purported to be a supplier, and that person fraudulently misrepresented a fact which the Council believed and relied upon.

Melbourne IT, April 2017

Business Interruption Loss.

This cover comes into play if a business is interrupted by a defined breach such as unauthorized access to the insured network resulting in a DoS attack suffered by the insured business (limited by the Business Recovery Period and subject to the Waiting Period) and costs have been incurred.  Costs include:

• Costs to avoid or mitigate the effects of the interruption;
• Additional expenses to continue normal operations; and
• A reduced financial position calculated as set out in the policy.

Menulog, 2016

When businesses face data breaches involving customers’ personal information, honest and upfront customer communication is key to maintaining credibility and reputation.

The covers that may come into play are:

• Third Party Liability – If the business was sued by a customer (third party) for loss of data i.e. the customer’s personal information. If the business breached the privacy laws it may be fined or penalised by a regulatory body.
• Event Recovery Costs – Data was exposed: costs to restore data; computer forensic services; costs to notify persons of any privacy breach including postage and call centre costs; public relations and crisis management services; and monitoring credit card usage and the reissuing of credit cards.

The Miami Medical Centre – Gold Coast, 2012

Every Cover within the Policy could come into play except the Social Engineering Fraud Option.  For example:

• Third Party Liability – If the centre was sued by a patient (third party) for loss of data i.e. the patient’s sensitive personal information.  If the centre breached the privacy laws it may be fined or penalised by a regulatory body.
• Defence Costs – Applying to the above liability.
• Event Recovery Costs – Data was lost: costs to restore data; computer forensic services; costs to notify persons of any privacy breach; public relations and crisis management services; fees charged by the Edmund Emergency Response Unit.
• Business Interruption Loss – If the centre had the business interrupted by the cyber attack and could prove a loss (limited by the Business Recovery Period and subject to the Waiting Period) and costs were incurred, this cover would respond.  Costs include:
  • Costs to avoid or mitigate the effects of the interruption;
  • Additional expenses to continue normal operations; and
  • A reduced financial position calculated as set out in the policy.
• Threat of Extortion Response Costs – The centre was subjected to a credible extortion threat to harm access to, or use of, the centre’s network, software or data, including personal and commercial information.  Therefore this cover would respond.
• Emergency and Expert Response Costs – The centre could incur Event Recovery Costs without Edmund’s prior written consent provided those costs were incurred by the engagement of Edmund’s Emergency Response Unit.

Ashley Madison, 2015

When businesses face data breaches involving customers’ personal information, honest and upfront customer communication is key to maintaining credibility and reputation. 

The applicable covers are:

• Third Party Liability and Defence Costs – The class action arose from loss of data – in this instance, the customers’ personal information. 

• Event Recovery Costs – Data was stolen: costs to restore data; computer forensic services; costs to notify persons of the privacy breach including postage and call centre; public relations and crisis management services; and monitoring credit card usage and the reissuing of credit cards.

• Business Interruption Loss – If the business was interrupted by the breach and could prove a loss (limited by the Business Recovery Period and subject to the Waiting Period) and costs were incurred, this cover would respond.  Costs include: 
  • Costs to avoid or mitigate the effects of the interruption;
  • Additional expenses to continue normal operations; and
  • A reduced financial position calculated as set out in the policy.

Coverage under Edmund’s cyber policy would be limited by the policy Limit of Liability and Sub-Limits of Liability

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