Cyber Insurance – for Your Business
Cyber insurance can help to protect your business from cyber-related threats including data theft, ransomware and hacking.
Who is it for?
If your business has a website or records that are stored electronically, you should consider Cyber insurance. The results of cyber breaches can be very expensive whether the cause be malicious or accidental. Financial costs associated with cyber incidents include ransom, engaging expert IT assistance to unlock or repair systems, legal costs, as well as losses incurred by customers as a result of an incident. You may also suffer losses of, and threats to, your intellectual property, sensitive customer information, and your business’s reputation.
What does it cover?
Financial losses incurred by your business, your customers and other parties can be covered by Cyber insurance. This can include:
- Revenue: lost as a result of interrupted business
- Ransom: including hiring negotiators
- Data recovery: replacing your records
- Third party data: loss of data and your legal liability
- Legal costs: defence and legal claims
- Investigation by a government regulator
- Copyright infringement
- Misuse of online intellectual property
- Crisis management and monitoring
- Prevention of further attacks
What doesn’t it cover?
There are some Exclusions where cover is not provided and in addition, there is often a deductible/excess. Limits and Conditions also apply. Please feel free to contact us to find out more.
Cyber Insurance – for You and Your Family
You can also take out Personal Cyber insurance which is specifically designed to protect you, your family, your identity, your reputation, your money and your time (wage replacement) when a cyber event occurs at home – covering such things as:
- Cyber extortion (ransomware)
- Identity theft
- Personal financial loss
- Wage replacement benefit
- Repair to e-reputation costs