Cyber Policy 2020-2021 updates

  • The policy now includes coverage for upgrades and/or improvements to computer systems, firmware and/or software, after an insured event has occurred. The maximum amount VMIA will pay would be no more than the cost that would have been incurred to repair or replace the original computer systems, firmware and/or software.
  • VMIA have also removed the annual aggregate sub-limits on the following coverage sections:
  • PCI fines and costs
  • Loss preparation costs
  • Bricking extra expenses.

The each and every claim limit for these coverage sections remains unchanged.

For further information on these policy updates please refer to the 2020-2021 VMIA Cyber Insurance Policy [PDF, 1.14MB].