Cyber Insurance for Stock Market Exchange and Broker

Who can buy Cyber Insurance for Stock Market Exchange and Broker?

• Stock market exchanges and brokers can purchase cyber policies to protect themselves against potential cyber threats and breaches.
• Large stock market exchanges and brokers with high trading volumes and valuable financial data are often the primary targets for cybercriminals. This makes cyber policy a crucial investment.
• Smaller stock market exchanges and brokers may also opt for a cyber policy as a proactive measure. It mitigates potential financial and reputational risks associated with cyber threats.

Cyber Insurance for Stock Market Exchange and Broker: Inclusions

Cyber insurance for stock market exchanges and brokers can vary. However, they generally provide coverage for the following.

• Coverage for expenses associated with data breaches. This includes investigation, notification, credit monitoring, and public relations.
• Protection against claims resulting from unauthorized access, denial of service attacks, or other network security breaches.
• Coverage for costs related to the loss or destruction of electronic data. This includes data recovery and restoration expenses.
• Reimbursement for lost income and additional expenses incurred due to a cyber-attack or system failure that disrupts normal business operations.
• Coverage for losses resulting from a failure of computer systems or network infrastructure. This includes hardware or software failure.
• Coverage for costs associated with regulatory investigations, fines, penalties, and legal defence in the event of a cyber incident.
• Protection against claims of defamation, copyright infringement, or other intellectual property violations related to online content.
• Coverage for expenses and ransom payments associated with cyber extortion attempts, such as ransomware attacks.

Cyber Insurance for Stock Market Exchange and Broker: Exclusions

• Losses due to acts of war or terrorism
• Losses caused by nation-state cyber attacks
• Intentional or criminal acts
• Regulatory non-compliance
• Known vulnerabilities
• Prior known breaches
• Business interruption due to system failures
• Losses from unauthorized trading or investment decisions
• Intellectual property infringement
• Failure to follow risk management protocols

Claiming process

• Incident Reporting
• Documentation
• Contact with Authorities
• Engagement with Experts
• Notifying Affected Parties
• Insurance Claims Form
• Claims Review
• Adjusting the Claim
• Settlement or Denial

FAQs