Cyber liability insurance’s aim is to protect businesses and individual users from internet based risks and more generally any type of business that uses information technology (IT) in their business infrastructure and activities.
In particular but not exclusively, a cyber liability insurance policy will cover the liability of a business if data is breached, in which the firm’s customer personal information such as telephone numbers, addresses or bank details are exposed or stolen by a hacker or organised criminals who were able to gain access firm’s electronic network.
Like many businesses, one of your most valuable assets concerns client data. It is your responsibility to keep the information regarding your clients completely safe, but what would happen if a breach of your system caused a loss of that valuable data?
According to a report by the UK government, 60% of small businesses suffered a data breach in the last year. A further 16% of small businesses experienced a ‘denial of service’ attack, effectively making their computer systems unusable.
How can a company protect against such damage?
We can arrange a selection of covers, tailored to your business in order to meet your specific needs.
Typical protection levels can include:
- Loss of profits associated with a systems outage that is caused by a “non-physical” peril like a computer virus or denial of service attack
- Provide cover for claims arising from leaked information, defamatory statements or copyright infringement
- Reputational damage arising from a breach of data that results in loss of intellectual property or customers
- Theft of money or digital assets through theft of equipment or electronic theft
- Payment of the costs associated with regulatory investigations
- Reimbursement for the costs of repairs, restoration or replacement if a hacker causes damage to your websites, programs or electronic data
What can our Cyber Insurance cover you for?
- Loss or Damage to Digital Assets
- Loss of Third Party Data
- Cyber Extortion
- Business Interruption from Network Downtime
- Investigation and Defence Costs
If you’re looking for cyber insurance, please get in touch with a member of our team of specialists today. Call us on 0121 293 5764 or complete our quote form and a member of our team will get in touch with you as soon as possible.