Insurance to protect your business against the increasing attacks from cyber criminals
The size of your business doesn’t really matter, in fact it could be argued the smaller the business the higher the risk.
Where you have a website, you use email communication, computer networks, even telephone systems are hacked and you don’t know about it until its to late
Where you keep data such as names and addresses you have to keep this data safe, having a data breach or information stolen can very quickly put you on speaking terms with the Information Commissioners Office with the financial consequences that brings
Cyber Liability can protect your business should you be the victim of cyber crime.
Your business insurance
Covered by experience, not by a call centre!
Being the victim of a cyber attack can have wide reaching consequences, whether that is data theft, ransom-ware being put on your networks, damage to hardware and lets not forget the amount of costly downtime.
Cyber Insurance – keeping your business in business.
Understanding Cyber Insurance.
Cyber Insurance is still a relatively new product, cyber crime has been around since the early days of the internet, as time moves on attacks are increasing, the tactics taken by cyber criminals are increasingly more sophisticated putting your business at a greater risk. The cover provided by a cyber insurance policy is constantly evolving as the risks increase.
Cyber Insurance the evolving protections.
Cyber Insurance is a constantly evolving product with new insurance products either being launched or updated all the time to keep pace with the types of emerging threats. There are standard insurance covers for cyber, consider how your business may be affected
- Cyber Liability – Cover where you are held responsible for hacking or a virus passing through to a third party.
- Privacy Liability – where you have negligently allowed hackers to access credit card information and personal data you may hold for example, allowing confidential information into the public domain.
- Cover for costs to your systems, hardware or software, this might include the costs to restore computer programs or reinstatement of its data.
- Cover for loss of profits (business interruption) following a cyber breach.
- Fall foul of regulations, cover for fines and costs of regulatory investigations.
- Cyber Extortion, ransoms, cover provided for sums incurred where the business has been prevented from accessing their computer systems.
- Telephone system hacking, covering the cost of unauthorised calls.
- Cyber Crime giving cover for fraudulent manipulation of electronic documents.
Cyber Insurance, its more than just hacking
Clearly cyber crime is extensive, your business can be attacked from all directions and its not just a virus.
Cyber Insurance is essential irrespective of the size of your business, the hackers are not interested in who you are, they are interested only in what information they can gain or the amount of money they can get from your business.
Confused by terminology?
A major concern when looking to buy this type of insurance cover is that you have to be a techie to understand it, in actual fact you don’t, all that needs to be understood are the consequences of what an attack might do to your business and getting the right insurance to cover it.
Its your business, protect it with a Cyber Insurance policy.