WHY CYBER?

You insure your business by protecting it from liability to employees and the public. You protect your assets like your premises, your equipment and your all important income. Data has become one of the most valuable assets to any business.

Why Cyber Insurance?

COSTS

Data breaches, hacking, and loss of systems are a real nuisance, they can take time to resolve and have a significant financial impact on your business.

YEARLY REVIEWS

It’s easy to implement procedures to protect you and then forget all about them. Annual Reviews give you the opportunity to keep things up to date.

BUSINESS CONTINUES

What happens when the system goes down? Response times are key to a swift recovery. Having the support of your insurer provides that extra layer of comfort ensuring your business will be up and running with minimal damage or lost time.

EXPERTS

Having access to IT and legal experts supported by your insurance policy ensures your business gets the attention it needs during such a critical time.

RESPONSIVE

Nearly two thirds of SMEs have been the victim of a cyber incident. 24/7 response allows the insurer to react quickly during the critical early hours by reducing the impact and getting the business back up and running.

INCOME PROTECTION

Cyber claims can be expensive and the risks can have a far-reaching consequence on your business. Cyber insurance can protect you from that potential loss of income that your business relies on.

NEW EXPOSURE

Cyber Risks are one of the newest and biggest exposures to your business. Would you leave your premises or your liability to employees uninsured? Why leave one of your largest risks without cover.

SECURITY

Many firms do not have a separate I.T. department. A Cyber policy gives you the security that experts are on hand to help when you need them the most.

UNDERSTANDING

With an excess of 3 million incidents in the UK every year. Cyber crime has no perimeter boundary and hackers can attack from anywhere in the world. The ultimate goal is to disrupt your business.

REPUTATION

A cyber incident can lead to reputational damage. Would your customers maintain trust after a cyber attack? Having a cyber policy can support the containment of reputational damage.

ESSENTIAL

You can protect your data with Cyber Essentials Certification which can provide a valuable health check on your security. Protecting your business form the risks is just as Essential.

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