The threat posed by cyber security risks to organizations is growing at an ever-increasing rate. Financial losses or lost reputation of institutions of different sizes from all over the world as a result of cyber-attacks are increasing and creating anxiety in the business world. As digital technology has become an indispensable part of corporate and social life, cyber risks will continue to spread in parallel with the speed of these technologies. Every person and institution that processes and preserves electronic data, whether mobile device, computer, server or online, is faced with this risk. The fact that Turkey ranks 8th among the countries exposed to cyber-attacks reminds us that we should pay more attention to the increasing cyber risks.
What is Cyber Risk Insurance?
Cyber risk insurance covers the claims that may arise due to the breach of personal or corporate data, the loss of net profit that may arise from the disruptions due to attacks on network security or network interruptions, the costs that must be incurred to prevent such situations from causing loss of reputation, etc. losses arising from many risks.
Cyber Risk Insurance Coverage
- • Data Loss
- • Network Security Breach
- • Unauthorized Use of Computer System
- • Denial of Service Attack
- • Malware
- • Data Corruption
- • Loss of Profit
- • Defamation, Plagiarism and Violation
- • Hateful behavior of the insured person against the dignity or personality of any person or institution, such as humiliation or harm, insult, slander, defamation of the work product, commercial defamation, moral damage, corrupt registration or unjustified eviction, trespassing, eavesdropping, wrongful arrest, malicious prosecution, gross negligent act
- • Breach of Privacy and Abuse of Trust
- • Malware, Denial of Service, and Unauthorized Use
- • Virtual Blackmail Charges
Damage in Cyber Insurance
In order to be the subject of damage, a cyber-attack must first occur. Cases that will be secured without a cyber-attack are cases that may be subject to PDPL and Administrative fines and data loss due to the fault of the employee.
