Backup for your backups. It's the omni-relevant insurance of the future.
Defence in depth
Stand-alone Cyber Liability cover is far more expansive than its bolt on cousins. Specific insurers range as to their cover but this could include regulatory fines, notification costs, coding errors, and data theft to name but a few options.
Plug the leaks
Being hacked is only the first part of the problem, the second is to repair and plug the leaks in your online defenses. This will give you the best chances of avoiding future hacks.
Legal and reputation advice
We understand that getting hacked is both frenetic and stressful. In the event of a hack your chosen insurer will spring into action and try to limit the damage caused to your reputation whilst providing legal assistance.
Cyber Insurance is here to support you business in the event of a hack and can service your company through a range of means. We work with a panel of top insurers, a service we have christened, CyberPeaceTM. We can source a range of different packages from the insurers for you to choose between. Not every product is the same - each insurer may also offer slightly different modules of cover enabling you to decide which package would be best for your business.
Cyber Liability insurance is designed to help backup your information security. It's also not often a coverage that's included as standard in your Professional Indemnity and Liability products. (Always check before you seel to buy another product!)
One wrong bracket, or failure to execute the right processes can cost you. Eek. This section covers you for code mistakes and other errors.
Using cloud tools to store and manage your information? This section provides protection for a range of risks.
If a big breach causes customers to think again about working with you, you'll need some cover to repair that damage
This section would cover the costs associated with the loss of data - from investigation to recovery.
Getting hacked or suffering a breach is one thing - now you have to tell first and third parties.
Getting the right message out there is important, this section can cover that.
Cybercrime is on the rise, 74% of SMEs reported a breach in 2015, according the a recent UK Government report.
We are the 21st Century Insurance Broker. Transparency, honesty and trust define our business. The relationships we build enable us to offer you the best coverage possible. Find out what we do above the rest.
According to a recent report by the Association of British Insurers, a whopping 81% of large businesses and 60% of small businesses suffered a cyber security breach over the last 12-months. They also indicated that the average cost of those breaches to business had nearly doubled since 2013.
(PWC's Annual Business Report)
(Association of British Insurers)
(CYREN’s 2015 cyberthreat yearbook report)