Cyber Insurance
You're covered.
For financial losses and liabilities that can arise from cyber attacks, data breaches, and other cyber-related incidents.
Cyber insurance for superyacht owners is a specialized form of insurance designed to protect against the financial losses and liabilities that can arise from cyber attacks, data breaches, and other cyber-related incidents. Given the increasing reliance on sophisticated technology and digital systems aboard superyachts, this type of insurance has become crucial for safeguarding against a range of cyber risks.
Cyber Insurance
Key Features.
The following shows the standard key features for our Cyber Insurance policies. Yet, at Superyacht Insurance Services, our products and service are anything but standard. We will work with you to design and build a bespoke policy that is uniquely tailored to you and your superyacht.
Data Breach Coverage
Personal Data Protection
Covers the costs associated with a data breach involving the personal information of the yacht owner, family members, guests, and crew.
Notification Costs
Provides coverage for the expenses related to notifying affected individuals and regulatory bodies about the data breach.
Cyber Attack and Extortion Coverage
Ransomware
Covers the costs of responding to ransomware attacks, including ransom payments (where permissible by law) and associated expenses.
Cyber Extortion
Protects against extortion attempts involving threats to disrupt yacht operations, leak sensitive data, or damage digital systems.
Business Interruption Coverage
Operational Downtime
Covers lost income and additional expenses incurred due to the interruption of yacht operations caused by a cyber incident.
Restoration Costs
Provides coverage for the costs associated with restoring systems and data after a cyber attack.
Cyber Liability Coverage
Third-Party Claims
Covers legal liabilities arising from cyber incidents that affect third parties, such as guests, business partners, or service providers.
Legal Defence
Provides coverage for legal expenses incurred in defending against third-party claims related to cyber incidents.
Network Security Coverage
System Repair
Covers the costs of repairing or replacing compromised digital systems and network infrastructure.
Security Enhancements
Provides funding for implementing enhanced security measures to prevent future cyber incidents.
Reputation Management
Public Relations Costs
Covers the costs of managing and mitigating reputational damage following a cyber incident.
Crisis Communication
Provides support for developing and executing crisis communication plans to address public and media inquiries.
In conclusion.
Let's talk.
Cyber insurance is an essential component of a comprehensive risk management strategy for superyacht owners, providing critical protection against the increasing threat of cyber incidents. By securing this type of insurance, yacht owners can safeguard their digital assets, ensure operational continuity, and mitigate the financial and reputational impact of cyber attacks and data breaches. This coverage offers peace of mind by addressing the unique cyber risks associated with the advanced technology and digital systems used on modern superyachts. If you’d like to arrange cover, please get in touch.
