BBVA Public Sector Cyberinsurance

To take out this insurance, you will need to attend a BBVA branch.

BBVA SMEs and Self-Employed Cyber Insurance is annual. It is automatically renewed each year on the same date.

You can cancel it by giving one month's notice before expiry.

Payment is made by direct debit.

Yes, except those engaged in financial services and insurers, gambling activities, pornography and companies regulated by public law.

An exclusion period will apply only for the following coverage:

• Loss of profits caused by business disruption due to data breach, system failure, attack or suspicion of attack: 12 hours.
• Loss of profits caused by business interruption due to an attack on an external supplier of the insured party: 24 hours.

Deductibles will apply depending on the turnover and number of employees. You can choose between €300 and €600 or between €500 and €750.

Management of incidents is not subject to an excess, except for notification costs, the creation of an assistance call center and monitoring of compromised information, which will be subject to the same general excess on the policy.

The limits you can insure are €300,000, €600,000, €900,000 and €1,200,000.

Yes, to best protect from possible cyberattacks this policy includes Norton Antivirus license valued at €69.99.

Current General Data Protection Regulations require organizations to report the attack within 72 hours to the Data Protection Agency and customers. Furthermore, some companies are required to have a Data Protection Officer.

 

Pre-existing problems and issues of which the insured party is aware before taking out the policy will not be covered, nor will dishonest acts, the unauthorized collection and use of data and repair, improvement, correction, withdrawal, replacement or erasure costs.

If when the incident occurs, the insurer verifies that the conditions have not been met, the coverage will be retroactive only to the date on which the policy has come into force. In addition, for coverage of loss of profits due to partial or total disruption of the computer system and in cases of ransom attacks, a 25% sub-limit on the insured sum selected for coverage (losses by the insured party, loss of profits and ransom attack) will apply.

The coverage of this insurance is worldwide, except for the USA and Canada.

BBVA Mediación, Operador de Banca-Seguros Vinculado, S.A. with registered offices in Madrid, Calle Azul nº 4, registered in the Special Administrative Register of Insurance Brokers of the Directorate-General for Insurance and Pension Funds under code OV-0060. With liability insurance arranged and sufficient financial resources.

Hiscox S.A., sucursal en España with Tax ID W0185688I, with registered office on Paseo de la Castellana 60, 7ª planta Madrid 28046, entered in the State Register of Insurers of the Directorate General of Insurance and Pension Funds (DGSFP) under number E231.

Hiscox S.A. is an insurance company with registered office at 35F Avenue John F. Kennedy L-1855, Luxembourg. Hiscox, S.A. is subject to oversight by the Comissariat aux Assurances de Luxembourg (CAA) and the DGSFP in Spain.