Different wordings cover IP loss in different ways. At CFC, we specifically cover the recreation of data, which differs massively to merely the recovery of IP. In a recent claim, an engineering firm fell victim to a cyber attack and lost a series of essential blueprints it used to pitch for new jobs. It transpired that the blueprints could not be recovered, but since the firm’s policy covered the recreation of data, extra resource was hired to recreate the blueprints from scratch. If the firm had a policy which just offered the recovery of IP, since the electronic files couldn’t be found, it would’ve been left with nothing. It’s difficult to value and measure the loss of IP, but the extent to which IP can be recreated is a different story. So read the fine print and ensure you go with the right policy. Find more about our cyber products here.