“Daughter” of Sberbank started to insure against cyber attacks

Subsidiary company “Insurance broker savings Bank” (100% owned Sberbank) announced the beginning of sales of insurance product from cyber threats to Bank customers and small business, told RBC representative of the Bank.

The amount of insurance coverage will amount to 50 million euros. In the insurance program provides, inter alia, compensation for the financial harm if a third party could compromise the confidentiality of corporate and personal information. Also provides for compensation for the interruption in employment caused by a cyber attack, and several others. In addition, the insurer will cover the costs to reissue compromised payment cards, as well as monitoring transactions in the accounts of the affected data subjects and third parties, for a period of up to 12 months after the leak.

Among Russian companies no one like a separate product, says a representative of Sberbank. However, he mentioned that under some insurance programs of competitors could be a sub-item on cyber attacks. Partners “daughter” of the Bank became the international insurance company Allianz and AIG.

“Insurance broker savings” also plans to develop services audit IT-infrastructure of various companies on the subject of protection from cyber threats as a separate service for businesses and organizations. “The audit service will be popular with tech companies, such as Internet shops, businesses in the field of communications and other organizations working with large sets of client data from private clinics, owning personal and confidential data on their patients, as well as companies engaged in customer payments in the Internet”, — informed the representative of the savings Bank.

In late January the state Duma adopted in the first reading a package of amendments relating to critical information infrastructure, which include defence facilities, fuel, nuclear, aerospace, mining, metallurgy and chemical industry, and also in the field of health, transport, communications, financial sector, energy sector. Among other things, the bill proposes to amend the criminal code and to envisage the possibility of imprisonment for up to ten years for the creation and distribution of malware, designed to affect the critical information infrastructure.

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