It is likely that, no matter what your business, you are reliant upon technology in some way or other. Whether you use it to store customer records, make online sales or issue electronic documentation, it is likely to be a vital part of your organisation. If that technology fails, your business could be exposed to a gap in productivity, damage to your reputation or even a fine.
With businesses increasingly likely to experience interruption to their business from a cyber-attack, it is more important than ever to make sure you are fully protected.
In insurance terms, Cyber Insurance is a relatively new product, but we work with market leaders in this field to find the right cover. Working in conjunction with our insurance company partners we take the time to understand your business and your cyber risks and provide appropriate advice and guidance on protecting against this.
First-class service. My requirements were clearly understood and matched to the relevant policy
Cyber insurance covers your own costs as well as associated third-party costs, including:
Most commercial insurance policies will exclude cyber insurance. If you handle customer data you should seriously consider obtaining cyber liability as a standalone insurance.
You can choose whether to take cyber insurance or not; it is not compulsory. However investing in security software will not make you impenetrable to cyber crime. It is always advisable to invest in quality cyber insurance to give you peace of mind. The financial losses incurred from a data breach could be catastrophic
Business insurance is a term used to describe a range of business liability products such as public liability and professional indemnity insurance. None of these products cover cyber risks; you must have cyber liability insurance if you want to be protected from cyber risks.
This will be determined by the size of the business and the level of business undertaken online. We’ll take the time to get to know your business needs and the risks you face and recommend insurance products to meet those needs. Your cyber liability will determine the level of cyber insurance recommended.
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We speak to Darren Chapman, Director and Principal Consultant at CyberScale to find out more about cyber security incident response planning and why it’s essential for businesses of all sizes.
While the internet has created lots of opportunities for UK businesses, the risk of cyber crime has also grown. Read on to discover how you can protect your business today.