GAMERS INSURANCE

What Information do you CREATE &/or STORE?
Worried about Cyber Attack?
What professional services do you provide?
Hosting?

An increase in publicity around cyber attacks, has heightened awareness of privacy and cyber exposures. Meaning the Professional, Product and Cyber related classes of insurance are becoming part of a standard business contract.

Many gamers will be requested by investors, co-producers and/or its clients to obtain Professional, Product and Cyber related classes of insurance via contractual agreement.

The GALVANiiZE Insurance team are equipped to help guide you through this process and insure some of the biggest games to come out of Australia.

CYBER RISK POLICIES

Cyber Risks | Security & Privacy / Media Liability / Cyber Terror / Cyber Extortion / Network Asset Protection.

Cyber Risk protection policies provide the following key elements of cover:

  1. Third Party Claims – Providing the Insured with protection from third parties alleging failure to keep data secure, including claims for compensation by third parties, investigations, defence costs and fines and penalties (allowed under law) from breaching the Privacy Act.
  2. First Party Costs – Reimbursement for Insured for the costs they would incur to respond to a breach, including: IT Forensic Costs, Credit Monitoring Costs, Public Relations Expenses and Cyber Extortion Costs (including ransom payments to hackers).
  3. Business Interruption – Protection by providing reimbursement for the Insured’s loss of profits resulting from the breach, as well as any additional necessary expenses it may need to incur to continue business as usual. Some of the common events that can result in a cyber claim include:
  • I.T. systems (designs & games) hacked and attacked
  • Breach of privacy & security
  • Lost or stolen iPads, smart pads/tablets, smart phones, PC/Mac’s or laptops/macbooks

PROFESSIONAL INDEMNITY AND PUBLIC & PRODUCTS LIABILITY

Information Technology (Professional Indemnity and Public & Products Liability).

Professional Indemnity Section of Cover:

The policy is designed to protect a game developer in the event they become legally liable to pay in respect of claims for compensation for personal injury/bodily injury or property damage as a result of an occurrence in the insurance period in connection with the insured’s business description stated in the policy schedule.

Contractors are quite often engaged to provide specific services for game developers, some policies for a small premium will extend coverage under the policy to include contractors only for the services they are engaged to perform for and on behalf the Insured. Any contractor should carry their own insurances.

Claims can be very expensive to defend, these policies are extended to provide an Insured with Defence Costs too. Specific coverage requirements must be met for a game developer under this section of the policy, so having the right advisor is important, especially even more so when you are doing business with USA and Canadian companies.

ELECTRICAL AND TECHNICAL EQUIPMENT

Insuring for loss (includes theft) of and/or damage to your electrical and technical equipment such as Laptops, Macbooks, PC’s, Mac’s, Surface, Phone’s, post edit suites, office contents, etc. is vital. GALVANiiZE can provide you with broadest cover available in Australia for your technical and electrical equipment. Coverage options from Premises Only, Australia Wide to Worldwide can be arranged at your request.


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