Have a quick look at our blog, 9 Types of Insurance a Small Business Should Have. It comes as no surprise that cyber risk and data protection insurance would be a must have in today’s digital landscape. We live in a world connected by social media, email and internet transactions and many of us use these as a vehicle to operate and promote our business. The constant development of new technologies and the increasing use of new means of communication are both a source of opportunity and of risks. It stands to reason that as a business owner, you would want to protect you and your database from cyber-attacks. These cyber attacks are happening with more frequency and can cause varying degrees of damage to an organization. Have a talk to our dedicated business insurance team to discuss what these data breaches can mean for you and your business.
If your company experiences a cyber attack, a good policy will cover you. A cyber insurance policy is a combined coverage policy including a direct loss component if suffered by the insured party and a liability component insurance cover.
Third party coverage: Privacy and data protection
First party coverage: Business interruption and loss of digital assets
These costs could easily run into the hundreds of thousands, if not $1m+ so If you wish to discuss any of these further, give our Business Insurance team a call and they will walk you through what your options are when it comes to cyber and data protection.
We can design tailor-made solutions for all companies wishing to actively protect themselves against digital risks, and in particular financial institutions, industries, communications, technology & media companies and retail companies.
If you are interested in having a talk about getting Business Insurance, we are here to guide you through the process.
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