CyberCare Liability and Privacy Insurance

 CyberCare Liability and Privacy Insurance

Internet provides more business opportunities to most small and medium enterprises (“SMEs”). At the same time, just a click to a spam, an unwitting online post or the loss of laptop may lead to financial loss, extra expenses and even legal responsibilities.

While no security system is infallible, CyberCare Liability and Privacy Insurance safeguards your business and provides you with peace of mind by transferring part of the risk.

‧Multiple legal liability coverage covering security and privacy liability and internet media liability of up to HKD 4,000,000
‧Contingency coverage covering privacy breach and digital asset replacement costs to protect and reduce loss followed by an insured event
‧Cashless settlement for data recovery by local expert
‧Flexibility to extend your protection to cover cyber extortion threat and reward payment
‧24×7 centralized post loss incident hotline
‧Hassle-free and simplified application process with just a few “Yes/No” questions
Plan 1 Plan 2
Coverage Maximum sub limit*
Legal liability
Security and privacy liability
• Cost of litigation
• Compensation and regulatory proceeding incurred by unauthorized disclosure, loss or theft of personal or corporate information
$2,000,000 $4,000,000
Internet media liability
•Cost of litigation and compensation incurred by electronic publishing wrongful act such as plagiarism, disparagement or false advertising
$400,000 $800,000
Extra expenses
Privacy breach costs
•Reimbursement of costs including accountant, legal advisor, public relations consultant or other third parties representation expenses incurred by unauthorized disclosure, loss or theft of personal or corporate information
$400,000 $800,000
Digital asset replacement costs**
•Reimbursement of costs for replacing, restoring or recollecting digital assets incurred by a security event (e.g. introduction of malicious code or denial of service attack)
$200,000 $400,000
Optional protection
Cyber extortion
•Any extortion expenses and extortion payments that directly result from and in response to a cyber extortion threat
$10,000 or $20,000

*HKD 20,000 deductible per occurrence of event.
**Customers could enjoy cashless settlement for data recovery provided by insurance company appointed solution provider with deductible waived.

Annual premium (HKD)
Plan 1
(Maximum limit HKD2,000,000)
Plan 2
(Maximum limit HKD4,000,000)
Company with annual total income below HKD 10,000,000 $5,000 $7,000
Company with annual total income HKD 10,000,000 – HKD 14,999,999 $8,000 $12,500
Company with annual total income HKD 15,000,000 – HKD 19,999,999 $11,000 $18,000
Company with annual total income HKD 20,000,000 – HKD 50,000,000 $19,000 $30,000
Optional protection– cyber extortion
Maximum limit (HKD) Annual premium (HKD)
$10,000 $750
$20,000 $1,500