Cyber Liability

The Cyber Liability operation comes under Barbican’s Specialty division and is headed up by Gareth Tungatt. The main areas of cover we provide can be summarised as:

Cyber/Network Risks

Worldwide, including USA and Canada. First party Network Security and BI. Third party Cyber Liability. Primary and excess of loss.

Technology Errors & Omissions

Worldwide, including USA and Canada. Primary and excess of loss

The range of Cyber risks

The incredible pace of technological innovation has produced complex dependencies and interconnectivities of companies and organisations across the globe.

This may have brought about great efficiencies and enhanced business practices—but it has also created an array of new problems. These include cyber-crime, media liabilities as a result of online publishing, and a heavy reliance on the uptime of the network.

As a result, commercial operations are now faced with a set of different business exposures, driven primarily by continually evolving e-commerce laws.

The more significant liabilities that clients need to build into their risk management and risk transfer strategies are outlined here:

Cyber Liability to Third Parties

By providing content or information via a website, organisations can be exposed to many of the same legal issues which apply to traditional publishers—such as copyright, defamation and infringement of intellectual property.

Network Security

Companies that hold customer data or other sensitive information within their networks have a legal obligation to protect and safeguard this information. Businesses who suffer a privacy or security breach resulting in the compromise of this data often end up with significant and costly obligations imposed under data protection legislations, regulatory issues, and may be subject to fines and penalties imposed by regulatory bodies.

Business Interruption & Loss of Data

More and more companies are totally reliant on the robust functioning of their e-commerce and business computer networks. There are many areas like online sales, access to databases and other internal operations where organisations would simply be unable to perform without their computer systems running at optimum speed and capacity.

Barbican eRisks product—a modular solution

Barbican’s unique eRisk product has been specifically designed as a one-stop solution to accommodate a variety of needs.

It meets the requirements of IT professionals looking for Comprehensive Errors & Omissions coverage combined with cyber liability. At the same time, it satisfies the need of those seeking a first-class insurance product by providing cyber liability coverage for third and first party e-commerce exposures.

We’ve designed Barbican eRisks in a new modular format, with separate insuring clauses for each section. These operate independently or in combination and modules can be purchased on either a combined or stand-alone basis. The design of the Barbican eRisks product offers our clients real flexibility and choice. Any number of modules can be selected, choosing whatever is required to provide the level of cover best suited to an individual organisation’s particular needs.

There are 7 modules in total, listed here—for full details of the coverage these provide, click on any one of the headings below.