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CYBER
INSURANCE

Protection for Network Security,

Privacy exposures, and much more.

Cyber Insurance provides your credit union with financial protection and expert response support in the event of a cyber attack, data breach, ransomware incident, or other digital threat. Traditional insurance policies - including Commercial General Liability and Professional Indemnity - typically do not cover cyber incidents. CMutual's Cyber Insurance fills this gap, offering both financial cover and 24/7 incident response services from specialist experts.

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Who is this product for?

Cyber Insurance is designed for all Irish credit unions that hold member data, operate digital systems, or conduct any activity online - which in practice means every credit union. It is particularly important for credit unions that have undergone digital transformation, use online banking platforms, or store significant volumes of member personal and financial data.

What does this product cover?

  • Cyber incident response costs - access to specialist forensic, legal, PR, and extortion response experts

  • Network security and privacy liability - claims arising from failure to protect member data

  • Cover for regulatory costs and fines arising from a cyber-related data breach

  • Ransomware and extortion - cover for ransom payments and associated costs

  • Business interruption caused by a cyber event - loss of revenue and additional costs to keep operating

  • System damage and data restoration costs

  • Intellectual property infringement and defamation arising from digital activities

  • Invasion of privacy claims, libel and slander

  • Court attendance costs

  • 24/7/365 incident response support - response coaches, computer forensics specialists, PR support, cyber and extortion specialists

What is not covered?

As with all insurance products, exclusions and limitations apply. Key exclusions include:

  • Incidents arising from failure to maintain basic security standards required under the policy (e.g., unpatched systems, where specified)

  • Losses already covered under another insurance policy (to avoid double recovery)

  • Intentional or fraudulent acts by insured parties

  • Full exclusions are set out in the policy wording provided at quotation stage

How does it work?

Cyber Insurance covers the credit union from two directions: first-party cover for your own losses (system damage, business interruption, ransom), and third-party cover for claims made against you by others (members, regulators, or third parties affected by a breach). In the event of an incident, your policy activates a team of response specialists - available around the clock - to help contain the breach, manage communications, and begin recovery. CMutual works with two cyber underwriters to provide competitive and comprehensive cover: AIG Europe S.A. and CFC Europe S.A.

Who underwrites this product?

Cyber Insurance is underwritten by AIG Europe S.A. (Registered in Ireland, No. 908876) and/or CFC Europe S.A. (Registered in Belgium, No. 0711818068). The specific underwriting arrangement will be confirmed in your quotation.

How are we paid?

CMutual earns commission and/or administration fees for arranging and managing your insurance, included within the premium. Full details are available in our Terms of Business.

Get in touch

  • To find out more or to request a quotation, contact our team:

  • Phone: +353 1 5533500

  • Email: [email protected]

  • Or use the contact form on this page

 

CMutual arranges insurance on a limited analysis of the market basis. We work with a defined panel of underwriters and do not compare all products available in the wider market. No cover is in place until a policy schedule has been issued to you in writing. Full details are in our Terms of Business.

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