About the Work

In April 2017, the German Insurance Association (GDV) published non-binding model conditions for cyber risk insurance. According to the model conditions (General Terms and Conditions Cyber), the insurance covers financial losses caused by an information security breach. An information security breach is understood as an impairment of the availability, integrity, and confidentiality of electronic data of the policyholder or of information processing systems used by the policyholder to conduct their business or professional activities. The conditions provide coverage in a modular system for:

• Own damages
• Third-party damages
• Assistance services (forensic and damage assessment, notification, crisis communication, and costs of PR measures)

The work explains the model conditions while also addressing alternative coverage concepts and coverage ambiguities.

Advantages at a Glance

• Most comprehensive presentation of the topic
• Consideration of alternative coverage concepts and company-specific conditions
• Extensive consideration and explanation of technical circumstances and risks

Target Audience

For companies, insurers, insurance agents, lawyers, and expert offices.