The choice of the territorial scope to be covered by the insurance coverage should depend on which clients your company cooperates with, in which paradise their business is registered.For example, if you are working with a UK client, you should select the world area outside the USA and Canada.
When choosing the sum insured, consider the real value of contractual penalties from contracts, potential administrative penalties of regulators, the cost of external companies (law firms, IT specialists), possible claims for damages of persons or companies for causing cyber incidents. If you work on international markets, especially on the US market, take into account that legal and...
It is the largest specialist insurer in the world operating on global markets for over 300 years. The brand operates in several dozen countries through the so-called coverholders, i.e. companies authorized to create insurance products. Due to Brexit, since January 2019 Lloyd’s operates throughout the European Union under the name Lloyd’s Insurance Company S.A. based in Brussels.