Increased reliance on digital systems and access to information online significantly increases our vulnerability to cybersecurity threats. Azure Risk understands how to minimize gaps and tailor coverage for loss, compromise, or electronic data theft. The main areas of cover include:

• Business interruption: expenses and lost revenue due to a ransomware attack, distributed denial-of-service (DDOS), operator error (accidental deletion of data), or any other computer virus or malware attack impairing a computer system. Our policies go beyond the cover typically provided in an Office Insurance package.

• First-party coverage: expenses relating to recovery from damage to computer programs and electronic data. For example, incident response (an actual or suspected cyber event), data and system recovery, and cyber extortion.

• Third-party privacy and network security liability: breaches of personal or corporate information and data protection laws.

• Funds transfer fraud and telephone hacking: fund transfer fraud involves a malicious hack; telephone hacking involves unauthorized access to a phone, such as intercepting calls or recording conversations. Social engineering is a type of cybercrime that uses techniques to trick people into sending money or divulging confidential information such as passwords, bank details or other personal, protected or proprietary material. When directed toward business entities, the goal is to fool employees into sending money, diverting a payment or transferring funds to the fraudster.