CYBER 

CYBER 

CYBER 

CYBER RISKS 

Cyber insurance is now something of an essential in today’s digital era. It’s a specialised insurance product designed to protect you from the financial losses associated with cyber incidents. 
What’s changed in the past few years is that those incidents are increasingly common and broad. You should expect your cover to span a wide range of events, including data breaches, cyberattacks and system hacking, denial of service, ransomware and more. These can compromise sensitive customer data, your intellectual property and financial records or simply impair your ability to operate. We’ll be only too pleased to advise on the types of cover appropriate to your business. 
 
Importantly, your cyber cover should also provide a financial safety net for expenses related to recovery efforts, legal fees, settlements, and any regulatory fines incurred due to the breaches. Most cover also includes a hotline to in-house IT specialists to help you get back on your feet (and ideally reduce the impact of a cyberattack). 
Why Do You Need Cyber Insurance Cover? 
As we increasingly rely on digital platforms and store vast amounts of data online, every business can become a prime targets for cybercriminals. Yes, attacks can lead to significant financial losses but they can also damage your company’s reputation and customer trust (imagine losing customer credit card records, for example…) 
 
We see cyber insurance as a critical component of a comprehensive risk management strategy, allowing you to respond effectively if the worst happens, minimising downtime and safeguarding your reputation. It’s not a “nice to have”, it’s a board-level necessity. 

How We Help Create The Best Cyber Policy For You. 

We’ll help you make the right decisions, but here are the broad factors you should be thinking about when buying a cyber policy. 
op of the list is the scope of coverage: perhaps more than any other class of insurance, policies can vary widely in terms of what incidents are covered and to what extent. We’ll also want to build cover around the size and nature of your business, the sector in which you operate and any risks specific to the sector (for example, many manufacturers are now using IoT devices which represent a completely new attack vector), and the types of data you work with. 
 
Finally, firms with robust cybersecurity measures, in-house skills or simply heavily insulated IT infrastructure may benefit from lower premiums. Either way, we’ll represent you to insurers so that they understand your unique risk profile and ensure you get tailored coverage. 

For more on Cyber insurance, talk to our friendly and expert team. 

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