Cyber Risks Insurance

The invisible threat of cyber crime, combined with the potential for tech infrastructure to fail, and the ever-evolving regulatory landscape, mean Cyber Risk has emerged as a minefield for modern business.

Unless your organisation carries specialist cover against such perils, you won’t be protected against the unusual risks that arise in cyberspace.

What if:

• Your network or ‘cloud’ were hacked – and the data regulator insists you notify customers of the breach?
• A malware attack interrupts your website?
• You incur cost in reconstituting valuable data that’s been stolen?
• The data regulator enforces painful financial penalties on you following a breach?

If you have an online presence and are using social media, then you’re vulnerable. Globally. Content, data, intellectual property and defamation – all present major risks. It’s important to work with an insurance broker who really understands the media and technology businesses and can support you with expert advice and specialist Cyber Risk Insurance.

Cyber Risk Insurance Coverage can include:

Protection against costs, expenses and liability arising from:

• Breach of Privacy or Confidentiality – critical defence against your liability for violation of privacy rights or breach of confidential information
• Data Breach Costs – reimbursement of your costs incurred in dealing with a regulatory investigation, including post-breach costs such as legal, PR & crisis management expenses, customer notifications, credit monitoring and identity theft monitoring costs, and network forensics
• Regulatory Fines or Contractual Damages – to reimburse sums you’re legally obliged to pay as a direct result of a breach of privacy law or contractual obligation, including PCI-DSS penalties
• Cyber Liability – your liability for customer/user financial loss or denial of access
• Business Interruption – for your lost income as a result of viruses, network failure or damage, hacking or cyber-crime causing ‘down-time’
• Data Extortion – protection against the threat of extortion as the result of ransomware, theft of data, or damage to your computer network
• Problems with an outsourcer - we’ll help build protection wherever you face loss or liability, and wherever it arises in your supply chain – including cloud providers & overseas data processors
• Costs of restoring or recreating data

We can sometimes reward clients' prudence in managing their Cyber and Privacy liability proactively - if you can demonstrate the precautions you've taken, we may be able to negotiate broader coverage at better rates on your behalf.

Click here to take a trip with us through the cyber universe – get informed, clued-up and insured.  Premiums start at £560.