Cyber Liability Insurance
From the NHS to Talk Talk, organisations and businesses of any size are at risk from Cyber attacks. Comprehensive cyber insurance for small businesses starts from as little as £19 per month (subject to terms and conditions)
A comprehensive Cyber Insurance will cover the following modules:
Protection if a hacker tries to hold your business to ransom. Includes the services of a risk consultancy firm to help manage the situation.
Offers practical support in the event of a data breach (electronic or otherwise) including forensic investigations, legal advice, notifying customers or regulators, and offering support such as credit monitoring to affected customers.
Cover for the costs of repair, restoration or replacement if a hacker causes damage to your websites, programs or electronic data.
Provides cover for claims made against you for failing to keep customers’ personal data secure. Depending on the circumstances the policy may also cover costs associated with regulatory investigations and civil penalties levied by regulators where allowed.
Protection if you mistakenly infringe someone’s copyright by using a picture online for example, or inadvertently libels a third-party in an email or other electronic communication.
Cyber Business Interruption
Provides compensation for loss of income, including where caused by damage to your reputation, if a hacker targets their systems and prevents their business from earning revenue.
Why is Cyber Insurance so important?
We have all heard the damage and disruption that ransomware has caused at organisations such as the NHS recently. More than ever cyber insurance can provide peace of mind for you and your business. The first line of defence is your internal IT security and infrastructure. If that fails cyber insurance is designed support and protect your business from data breaches and attacks by malware and hackers.
The UK Government estimated that 60% of small businesses suffered a cyber breach in 2014*. Very few of those companies have a cyber insurance policy in place to protect them. The average cost of a cyber-security breach for SMEs in the UK is between £65,000 and £115,000*. From as little £19 per month we can arrange insurance that will protect your business.
If you think the following points apply to your business then we strongly recommend you consider a cyber insurance policy:
• Your business is heavily reliant on your IT systems and websites
• Your business holds sensitive, confidential or personal information
• Your business processes or hold payment card and banking information
For free help and guidance on our cyber insurance requirements, please call our friendly team on the 0207 175 4589