CYBER RISKS

ARE REAL

Its not exclusive to large businesses, every SME is exposed and needs protection

WHY CYBER

Any business wants to protect its business by insuring it’s assets from property to their liabilities to people. These days, data is one of a firm’s most valuable assets and more importantly it’s biggest risk. If your business collects, stores or processes data on a computer, you are responsible for the security and protection of that information. Could your business survive the costs and implications of a cyber-attack?

WHY US?

We are an independent insurance broking firm established in Scotland over 50 years ago when computers and mobile phones were not a necessity to business operations. We are experienced in managing cyber insurance portfolios and more importantly managing and handling cyber insurance claims.

WHAT’S COVERED?

The cost to your business can be endless in the event of a cyber attack. From the cost of recovering lost data, ransomware payments to managing your regulatory obligations and reputation, we can implement a program that works for you.

A company director of a wholesale business clicked on a link in an email that he believed came from a customer. Unfortunately, this meant the entire computer network was locked and as a result received a message demanding a ransom of £15,000 in BitCoin to restore the system. After 10 days the client paid a BitCoin ransom to restore operations. The insurer covered the costs of the ransom; incident response and the extensive network interruption including increased cost of working and cancelled orders.

CASE STUDY - SYSTEM LOCKDOWN

Following a cyber attack a small retail business had to notify all their customers affected that their personal data had been hacked including credit card details. This created a huge amount of work for the business and had a significant impact on their operations. Not only did the insurer cover the costs of the IT experts it provided a contribution towards improving their IT resilience and prevent a similar incident occurring.

CASE STUDY - CUSTOMER DATA

As a result of a significant data breach many customers took to social media to complain about their personal data being hacked. This caused serious concern within the business. The cyber policy provided access to a professional public relations and crisis management company to help rebuild customer confidence.

CASE STUDY - REPUTATIONAL RISK