6. Privacy & Network Security (Cyber) Liability Insurance
Provides protection in following circumstances
o Privacy breach - Wala’a will reimburse the company for the privacy breach costs the company incurs that directly result from a privacy event
o Digital Asset Replacements – Wala’a will reimburse the company for any digital asset replacement expenses the company incurs due to the corruption or destruction of digital assets caused by a security event
o Security and Privacy Liability – Wala’a will pay on behalf of the insured all loss which the insured becomes legally obligated to pay on account of any claim first made against the insured for a wrongful act. This section also includes defencse cost.
o Business Income Loss – Wala’a will pay the company any business income loss, dependent business income loss and extra expenses the company sustains during the period of restoration due to an interruption of service
o Cyber Extortion – Wala’a will reimburse the company for any extortion expenses and extortion payments actually paid by the company that directly result from a cyber extortion threat.