GoldStar-Insurance-Company-Logo

goldstar@goldstarinsurance.com

Drop us a line

+256 41 4250110

Make a call

en English

What is Cyber Crime Insurance Insurance?

Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities.

First Party Costs

  • Network Business Interruption – A computer system failure or breach of network security leading to income loss and expenses incurred during the period of interruption
  • Restoration Costs – Expenses to restore information/data after a failure of the computer system or network leading to destruction, corruption or loss of electronic information assets and/or data.
  • Regulatory Defence Costs – Defence costs of regulatory action due to breach of privacy regulation. Cover may include fines and penalties due to breach of privacy regulation.
  • Security and Privacy Liability – Investigation costs to determine cause and extent of security failure. Cover may include fines and penalties due to breach of privacy regulation.
  • Cyber Extortion – Costs and expenses related to threats or extortion after the release of confidential information or breach of computer security.
  • Intellectual Property – Value of trade secrets stolen through a cyber-attack.
  • Data Breach – Compensation of third party liability claims related to the disclosure of confidential commercial and/or personal information (privacy), as well as economic harm suffered by others from a failure of network security.
  • Crisis Management – Costs and expenses associated with managing a cyber event (e.g. a privacy breach), which may include forensic investigation expenses, call centre costs, credit monitoring costs and public relations costs.

 

Third Party Costs

  • Data Breach – Compensation of third party liability claims related to the disclosure of confidential commercial and/or personal information (privacy), as well as economic harm suffered by others from a failure of network security.
  • Crisis Management – Costs and expenses associated with managing a cyber event (e.g. a privacy breach), which may include forensic investigation expenses, call centre costs, credit monitoring costs and public relations costs.
  • Cyber Insurance will not duplicate a Financial Institutions Financial Lines programme so it does not typically provide cover for Professional Liability – claims resulting from the failure to provide professional services to your customers and clients; and Financial Crime – theft of your own or customer/clients assets/money
  • Money Transfer – Covered under the Financial Crime Policy
  • Market Fluctuation
  • State sponsored activity/ espionage
  • Most Insurers prefer to utilise their own wordings, so conditions and exclusion can vary. Natural catastrophes – A landslide causing damage to an organisation’s power source, the resulting losses may not be included under a standard Cyber Policy.

Choose optional add-ons at an additional cost to create cover that suits you.

  • Political Violence and Terrorism: Cover against political violence and terrorism

Other types of insurance cover

Aviation Insurance

This insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are distinctly different from those for other areas of transportation and tend to incorporate…

Corporate Travel Insurance

In an ideal world, planes are on time, luggage arrives safely, traffic flows smoothly, the weather is perfect and the hotel room is ready on arrival. However, in reality flights are often cancelled, luggage is lost, a passport…

Agricultural Insurance

Goldstar is part of The Agro Consortium, that currently consists of Ten (10) Insurance Companies offering Agriculture insurance covering crop and livestock risks. Standardize premium rate cover for crop and…

FAQ’s

You will need contents insurance, sometimes known as all risk cover, for items for which you require cover out with the home. Please provide details of these items at the time of quotation to ensure that the policy provided meets with your requirements.

Accidental Damage cover provides protection against costs incurred through damage that you, your family members or visitors may cause to the structure of your Building or to your Contents. Examples of incidents which would be covered under this extension include putting your foot through the loft floor damaging the ceiling below, leaving a tap running leading to water damage or carpet spillages. Such incidents would not be included under a policy taken out to cover Standard Perils only.

Additional charges will apply and in certain circumstances this cover might not be available.

Items kept in the garage or garden sheds will be covered under the Contents section of your policy provided you have included their value in the total sum insured declared. Limits may apply to the amount that can be claimed for theft of items taken from outbuildings and additional charges may be made for certain items such as ride on mowers. Cover for motor vehicles and motorcycles is excluded. Please declare your requirements for cover kept in outbuildings at the time of quotation to ensure that the policy provided meets with your requirements.

In most cases you will need to arrange cover for your own contents and personal possessions. Please refer to your tenancy agreement to check what, if any cover is provided by your landlord.

An excess is the amount a policyholder is required to pay towards the cost of any claim. You may be asked to pay this amount to a company that has carried out repairs on behalf of your insurer, or alternatively the sum will be deducted from any settlement received.

Tips:

Goldstar claim process

No matter what your worry is, we’re here to help explain the process, assess your claim fairly and minimize the disruption to you with a transparent claims process.

Read More...
How to make a claim

We have a number of options to help you make a claim quickly and effectively. Contact our dedicated claims team for advice on an incident/claim.

Read More...
Why choose us ?

Goldstar Insurance was IFM’s Best Insurance Company in Uganda (2015) and has over the years consistently maintained a Global A+ Credit Rating

Read More...