TVB Jade interviewed Zurich's HKGI CEO

In January, Mr. Eric Hui, CEO of Zurich's General Insurance business in Hong Kong, was invited by TVB Jade – Finance Magazine (財經透視) to participate in a TV interview to talk about the latest market trends and update on Zurich’s web security and privacy protection policy, as well as sharing our market insights on cyber risk management to further promote our thought leadership in this specific business area.

Following the rapid growth of IT and e-commerce that provides business convenience to small and medium enterprises (SMEs), and large companies including multinational corporations, questions about potential risks of data loss and cybercrime were raised by the reporter.

In responding to these questions, Eric has introduced Zurich's Security and Privacy Protection policy (S&P) which intends to provide a total solution to any business against both first and third party losses (including financial and reputational costs) from one or more security event, or privacy event, thereby resulting in potential security or privacy breach.

Hui said S&P provides first party coverage and third party coverage. Areas of protection under first party coverage include privacy breach costs such as forensic investigation expenses, legal and PR expenses, notification expenses and credit monitoring expenses. Third party coverage include security and privacy liability cover, regulatory proceedings defense costs, civil fines and penalties cover, internet media liability cover, etc. Zurich can offer up to USD10 million capacities either on primary or excess of loss basis to any single customer.

The TV interview of Mr. Hui was aired on February 8.