In today’s digital world, protecting your business against cyber risks has never been more important.
We arrange Cyber insurance for a wide range of organisations looking to mitigate the risks associated with cyber-attacks. By taking the time to understand your specific concerns, we can establish the most appropriate coverage for your business to minimise disruption and any damage your business reputation may face.
Why does my business need Cyber insurance?
Cyber insurance is a policy that covers losses your organisation may face relating to the loss or damage of information on your IT systems and networks.
Although you are responsible for your organisation’s cyber security, in the unfortunate event of a cyber-attack, having the right cyber insurance in place will mean you have support just when you need it most. This may be crucial if you are facing damage to your business reputation or regulatory enforcement.
Cyber attacks and data management are becoming a more important aspect of risk mitigation for businesses that manage data. So, if your business uses, sends or stores any electronic data, you may want to consider Cyber insurance.
What does Cyber insurance cover?
Cyber insurance is essential insurance policy for any businesses using data and examples of coverage include:
First-party Liability – Protection For You
- Loss or damage to your data or software
- Potential business interruption from network downtime
- Cyber extortion - where a third party threatens to damage or release your data if money is not paid to them
- Expenses for third-party notification (incl. customers) when there is a legal or regulatory requirement to notify them of a breach
- Repairs or replacement following any system damage
- Regulatory actions, investigations and court attendance costs.
- Costs for crisis communication
- Damage to your reputation arising from a data breach that results in loss of intellectual property or customers
Third-party Liability – Protection For Your Customers
- Breaches in security and/or privacy, investigation and defence costs along with potential associated civil damages.
- Multi-media liability. Covers investigation and defence costs, along with any civil damages arising from defamation, privacy breaches, or negligence in the publication of electronic or print media.
- The loss of any third-party data. This includes the payment customer compensation for access denial and the failure of any software or systems.
Cyber Crime
- Theft of personal funds
- Funds transfer fraud
- Theft of funds held in Escrow
- Extortion
- Corporate identity theft
- Telephone hacking
- Push payment fraud
- Unauthorised use of computer resources
Ultimately, we aim to give you confidence when it comes to cyber security insurance for your business, mitigating the risks associated with cyber-attacks and cybercrime.
And it’s not just Cyber insurance. We offer a wide range of commercial insurance products to ensure your business is covered for all eventualities. Get in touch today to find out more.
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Fleet and Commercial Insurance Brokers
Suites 6 – 10, Wesley House
Ventura Park, Broadshires Way
Carterton
Oxfordshire OX18 1AD
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We help business owners across the UK with insurance policies that suit their individual needs. Why not get a competitive quote?