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Hollard Private Portfolio – Version 3.5 – 7 May 2024
Cyber insurance
The following conditions apply:
– You provide written evidence stating the nature of events; where the content was posted; list of
recipients; and
– An A-1 statement from the police and obtain a crime reference number within 7 days of discovery by
you.
Examples
Your child becomes the target of bullying via social media and starts to suffer from depression.
You start receiving threatening messages, or sensitive information about you is posted online, which leads to you
losing your job or suffering emotional trauma as diagnosed by a licensed physician or psychologist.
Your cover
We will cover the costs to remove the relevant online material, lost income, legal costs against the third party, costs
to manage and protect your reputation, payment for trauma counselling, and costs to move your child to a different
school if required.
○ Cyber extortion
You may receive a legitimate demand for a ransom payment by a third party to harm your computer system or
to prevent your personal information (photos, emails, or texts) from being made public. We will cover (after
consultation with an IT expert/Incident Response Provider) the ransom payment and reasonable costs to
resolve the cyber extortion incident. The following conditions apply:
– The ransom payment must be made in adherence to the applicable laws at the time and subject to our
prior written consent.
– You must notify the relevant law enforcement authorities of the cyber extortion incident.
Examples
You click on a link in an email or open an attachment that installs malware on your personal device. The ransomware
encrypts your data and a ransom demand is received asking you to make payment to decrypt your data. You receive
a request to pay a ransom demand, failing which your private photos and texts will be published online.
Your cover
We will cover the costs for IT experts to confirm the validity of the demand and as appropriate try to restore your
systems and data. If required, we will cover the ransom demand as well as other reasonable costs that may be
incurred by you to resolve the incident.
○ Data and privacy breach by a third party
We will cover your legal costs if you claim damages from a third party for a data breach of your personal data.
We will pay on condition that the third party acknowledges the data breach event to you in writing or publicly
in the media.
Example
A company that stores your information is hacked and as a result your personal information is stolen and identity
theft is committed against you.
Your cover
We will cover your legal costs to seek damages against the company from which your personal information was
stolen.
○ Data restoration and malware decontamination
We will cover the reasonable and necessary costs for an expert to restore your data and software to the closest
possible condition it was in immediately prior to the cyber incident.
– Computer malware is designed to cause harm or to gain access to computer systems. We will cover
expenses to restore your computer system, data and electronic media that was affected by malware
such as viruses, ransomware and rogue security software.