Data Insurance offers full indemnity insurance coverage against permanent loss of data.

Cyber Indemnity Solutions Ltd (CIS) has established a global standard for insured data protection by combining insurance risk management practices, data storage methodologies and auditing procedures and a proprietary data insurance policy management platform.

Business, Organisations and Government can now insure a valuable asset, easily and inexpensively.

data insurance quote

Data Insurance is made available globally via insurance and technology partners and licensed by CIS.

What is Data Insurance?

Data, unlike many other assets, has previously not been easy to properly insure for its financial worth. CIS has created the world’s first insurance policy that indemnifies the financial risk of data loss.

With the release of our first product, Data Insurance, businesses will be able to protect their data, insure its full value and limit the financial and regulatory exposure that can occur as a result of data loss.

Data insurance is a patented combination of insurance and technology components combined to form a new type of insurance, one that pre-emptively protects data while insuring against risk of potential loss.  It allows a policy holder to nominate the value of their data without being subject to potentially costly or inflexible insurance auditing processes.

Data Insurance policy premium rates are pre-approved and appropriate for all businesses.

Why is Data coverage needed?

Electronic data is one of business’ most valuable assets and one of its largest risks. Despite the importance of this asset, many companies report that they lose data as a result of user error or systems malfunction.

It is standard practice to insure assets of a business such as buildings, vehicles, plant, IT hardware and even human resources;  however until now it has not been possible or practicable to insure critical data.

As a business owner or director you are responsible for adequate and best practice protection for your company assets and potential liabilities. Purchasing sufficient first party insurance coverage in the event that data is accidentally lost is also critical.

How Does It Work?

Tivly works with dedicated data insurance companies, brokers and IT managed service providers. They have the ability to sell a Data Insurance policies to data owners indemnifying them against the loss of data with an indemnity value commensurate with the value of their data.

Data valuation is undertaken by the data owner taking into account factors such as potential lost business revenue, increased expenses, and data re-creation incurred in the event of data loss.

After the data owner has purchased a Data Insurance policy, they are required to use the data management services of a DI approved Service Company who is audited by DI on a periodic basis.

Who Needs Data Coverage?

Data Insurance products cater to the insurance needs of data owners.  It is a 1st party insurance product that indemnifies against the loss of data to the value specified by the data owner.

Electronic data is ubiquitous.  It resides on many device types and in many locations both stationary and mobile.

Data can also be hosted or stored by organisations other than the data owner, the same form as provide by the data owner of in modified form in the case of lawyers,  accountants and other professionals keeping client data as provided by them.

All of these individuals and organisations are at risk of financial and reputation loss caused in the event of a data loss event.