Be careful when applying: false information in cyber insurance is expensive!

Be careful when applying: false information in cyber insurance is expensive!

Carelessness when filling out cyber insurance application forms can have fatal consequences for companies. Loud anwalt.de Incorrect or inaccurate information can result in no insurance cover being applied in the event of damage or the contract being completely invalidated. In times when hacker attacks and data leaks cause billions in damage to the German economy every year, choosing suitable cyber insurance is essential for companies of all sizes.

Cyber ​​insurance provides a financial buffer against various IT risks, including data loss and business interruption. Insurance costs can cover, among other things, data recovery, IT forensics and compensation claims coverage. However, in order to receive insurance coverage, it is necessary that the application forms are completed truthfully and accurately.

Pre-contractual notification obligation and its consequences

The pre-contractual notification obligation in accordance with Section 19 VVG requires policyholders to provide precise information about circumstances relevant to the risk. This includes essential questions about backup strategies, access rights and security measures such as antivirus programs. Incorrect information in the risk questionnaire can have significant disadvantages, including loss of insurance coverage. A recent ruling by the Schleswig-Holstein Higher Regional Court shows how important it is to answer the application questions correctly: Here, an online company lost its insurance coverage because an employee answered the questions without sufficient knowledge, which was viewed as fraudulent deception.

However, the legal situation is not clear everywhere. In the ruling of the Tübingen Regional Court, a policyholder was granted insurance coverage despite outdated servers. In contrast, there is a case from the Kiel Regional Court, where incorrect answers to risk questions were classified as fraudulent, which led to the insurance contract being challenged wilhelm-rae.de reported. These different judgments highlight the uncertainties in the interpretation of risk questionnaires and the need for a thorough assessment by IT experts.

Practical tips to avoid problems

To avoid potential problems when applying for cyber insurance, care should be taken when answering the questions. Involving IT experts can help identify knowledge gaps and provide a more complete picture of risk management. Policyholders should be careful to document all information used to answer the questions. An open exchange with the insurer about unclear terms or security standards can also be beneficial.

The relevance of professional IT forensics in the event of damage is often underestimated. Not only can it help establish counter-evidence of causality, but it can also provide valuable information that can be useful in legal disputes. Finally, it should be noted that in insurance practice, honesty and care are of utmost importance when taking out cyber insurance. If there is any uncertainty, a specialized lawyer should be contacted in order to minimize future risks.