Personal Cyber Liability Insurance

Why You Need Personal Cyber Liability Insurance

We live in a digital world which has its own kind of risks that we are all familiar with. But now you can protect yourself with Personal Cyber Liability Insurance. Cyber insurance is being increasingly recognised as absolutely essential for businesses but what about us as individuals?

The BBC has reported that private individuals in the UK alone are losing over £190,000 per day to online frauds and attacks.

Low Cost Personal Cyber Insurance Is Now Available

Prizm Solutions, your award winning insurance broker in Tamworth, has sourced a solution and we are able to offer specialist cyber cover designed to protect private individuals and their families.

The cover costs £95.22 per annum (but this reduces to £67.56 for existing clients of Prizm Solutions Ltd – not our rules, sorry) and for that you get the following five headings of protection and assistance.

Personal Cyber Liability Insurance Cover For Cyber Bullying or Defamation

Personal Cyber Liability Insurance will reimburse you up to £2,500 for the purposes of seeking the removal of online material which is relevant to cyber bullying or defamation. If after such a cyber bullying or defamation incident, you deem it necessary, we will reimburse you the cost of up to ten hours counselling or other psychological support relating to the incident delivered by a member of BACP or equivalent professional body.

For example, cyber bullying or defamation may include a pupil at your child’s school taking and sharing embarrassing images of your child on the internet.

Under the Personal Cyber Liability Insurance policy, we will support you to request the removal of such content, involving lawyers if necessary and we will reimburse the first 10 hours of therapy given to your child by a specialist.

Personal Cyber Liability Insurance Cover For Recovery of Insured Data

Personal Cyber Liability Insurance will reimburse you up to £2,500 to attempt to resolve the impairment of your computer system or recover lost insured data arising as a result of the unauthorised electronic actions of a third party; or Malware.

An example of recovering insured data may include you receiving a virus or ransomware that prevents access to the data on your computer.

Under the Personal Cyber Liability Insurance cover our specialists will attempt to restore your computer to a functioning state where removal of the virus is possible. Or restore the latest back up you have if available; or recover as much of your data as possible which you can then load on to a computer of your choice

Personal Cyber Liability Insurance Cover For Online Sales Fraud

If you fall victim to online sales fraud, Personal Cyber Liability Insurance will reimburse you up to £2,500 for your loss of transactions you have been dishonestly induced to enter by a third party to deliver (or arrange delivery of) goods for which you do not receive payment within a reasonable time and in any event at least 14 days have elapsed after the date by which payment was agreed or expected in circumstances where:

  • You have agreed to deliver goods
  • It was agreed or you reasonably expected payment would be made by electronic transfer
  • The goods were delivered to a third party in England, Northern Ireland, Scotland or Wales

Here’s an example of online sales fraud that would be covered by Personal Cyber Liability Insurance. Say you sell a laptop online and ship it reasonably believing you will receive electronic payment for it which never reaches your bank account. If you are unsuccessful in recovering the laptop or payment from the buyer or platform, we will reimburse you the agreed purchase price, all you would have to do is prove the agreed sales price and the fact that the item was successfully shipped.

Personal Cyber Liability Insurance Cover For Online Shopping Fraud

We all buy goods and services online so you can have peace of mind that with Personal Cyber Liability Insurance you are covered.

We will reimburse you up to £2,500 for your loss of transactions you have been dishonestly induced to enter by a third party by electronic means, to make a purchase of goods or services which are not delivered or provided within a reasonable time and in any event at least 14 days after the date by which delivery or provision was agreed or expected.

An example of online shopping fraud that would be covered by Personal Cyber Liability insurance cover would include this kind of scenario. You buy a pair of shoes online. If they fail to arrive within 14 days after the delivery date and the seller refuses to rearrange delivery or reimburse you because the seller is a scammer, we will reimburse you the cost of the shoes but if the goods arrive or the seller or bank subsequently reimburses you, you must reimburse us.

Personal Cyber Liability Insurance Cover For Online Theft of Personal Funds

If you have got Personal Cyber Liability Insurance in place, we will reimburse you up to £10,000 for loss of any unauthorised transactions following you having suffered a theft of funds by a third party resulting from:

  • Unauthorised online use of your payment cards; or
  • Unauthorised access to your online banking account; or
  • Unauthorised access to your online wallet

Personal Cyber Liability Insurance would cover you in the following examples of the theft of personal funds. Imagine you are tricked by a phishing scam and the scammers use you bank details to steal your money through online banking, or if someone uses your debit card details online, we will reimburse you if the bank will not.

Why Personal Cyber Liability Insurance Is Important

It is a shame we live in a world where cyber crime is an every-day occurrence. We think that Personal Cyber Liability Insurance is a very valuable way for you to protect yourself and your family from cyber criminals.

The policy we offer covers you, your married or civil partner, your children and parents, who all permanently live with you. If you would like to know more please click here to arrange a call back so we can discuss your Personal Cyber Liability Insurance. We are Tamworth’s award winning insurance broker and we look forward to helping you.

And all of this is FREE! Just another added value benefit of being insured with an award winning insurance broker in Tamworth!

Would you like a quote or to find out more?

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