Cyber Risk

Cyber security is a current and debated issue in our society. Owing to cyber threat, no one can be considered safe, from Private Citizens, Professionals and Companies. In Italy, about 8 companies out of 10 undergo cyber attacks everyday without realising it. In the last three years, about one company out of two has suffered cyber attacks. Looking at the data, the damages have exceeded 7 billion euros. Among the Italian regions, Lombardy has suffered most for this lost, losing 2 billions.

Thanks to its highly skilled insurers in this field, BSA offers a complete insurance coverage from privacy violation to data loss, from the activity interruption to money misappropriation from bank accounts. Our activity is in line with the new European Privacy Laws (GDPR, General Data Protection Regulation).

The insurance coverage is particularly suitable for small-sized companies and professional practices.These, in fact, are more vulnerable because of their poor defense and response capabilities.

These are the guarantees offered by the Cyber Security coverage:

• Third-parties compensation with respect to violation of the law. These deal with violations of personal data or breaches of network security systems
• Compensation for notification costs, investigation, credit check, data recovery and legal fees
• Dedicated and reactive help desk to manage emergencies timely. Available in Italian, it is active from Monday to Saturday

Additionaly,other 4 coverage options can be added:

• Damages due to business interruption: for each day or total or partial inactivity, a daily allowance is paid
• Reputational damages: it covers costs and expenses incurred for the image protection and reputation following the publication of defamatory content. Under “Reputational Damages” compensation to third parties for defamation are included
• Cyber Crime: it compensates amounts illegaly stolen by third parties through the access to bank accounts or the alteration of data in the insurer’s information system
• PCI (Payment Card Industry) and DSS (Data Security Standard): it covers the costs and expenses incurred to restore the procedure (investigation, certification and issue of new cards)