Cyber Risk Insurance
Safeguard your business with crucial support against cyber liability, loss of funds or data, and technological interference.
Cyber security coverage designed to shield your company from the consequences of technological threats
In today’s digital age, where cyber threats are becoming increasingly sophisticated and pervasive, protecting your business from the devastating consequences of cyber-attacks is paramount.
Cyber Risk insurance (or Cyber Liability insurance), is a specialized form of coverage designed to shield your company from the devastating consequences of technological threats, such as data breaches and malicious cyberattacks on computer systems.
These incidents can have a profound impact on businesses of all sizes, causing significant reputational damage, operational downtime, financial loss, and even legal action.
By investing in a cyber liability cover, you can protect your business’ valuable assets, minimize financial losses, and maintain its reputation in the face of cyber security threats.
Benefits of Cyber Risk Insurance
We work with leading specialists that offer flexible modular policies that allow you to select the coverage that matches your requirements. Some of the key features include…
Critical support from a legal response advisor and IT specialist
Payment for Legal, IT and PR services, and data restoration
Defense costs and liability claims due to breach of confidentiality
What’s included in Cyber Risk Insurance
What’s covered
In the event of a cyber-attack, most cyber risk insurance policies will cover the first-party and third-party financial and reputational costs if data or electronic systems have been lost, damaged, stolen or corrupted.
First-party cover typically includes:
- Cost of investigating a cybercrime or event
- Access to appropriate experts
- Recovering data lost in a security breach
- Restoration of computer systems
- Loss of income
- Reputation management
- Extortion payments demanded by hackers
- Notification costs where you are required to notify third parties affected.
Third-party cover (claims against you) typically includes:
- Damages and settlements
- The cost of legally defending yourself against claims
What’s not covered
Ultimate responsibility lies with the company director – even if they have delegated the management of cybersecurity to others. Therefore, directors’ and officers’ insurance is essential to support cyber risk insurance, if it is not covered by the policy.
Cyber Risk Insurance FAQs
Is my business vulnerable to cybercrime?
Will my cyber liability cover protect me if an employee caused the attack?
How much does cyber insurance cost?
Our Partner for Cyber Risk Insurance
Safeguard your business with state of the art Cyber Risk Insurance cover. Our expert team will craft a cyber insurance solution that perfectly suits your business needs.