Cyber Liability and Crime InsuranceWhat is Cyber Insurance?
Cyber Insurance (also referred to as Cyber Liability Insurance or Cyber Risk Insurance) is a policy that can cover the financial losses relating to damage to, or loss of information from IT systems and networks. Cyber threats include things like fraud, data theft and social engineering, where criminals attempt to fool you into parting with money, information or both. Cyber threats come in all shapes and sizes, from email phishing viruses and password attacks to malware and ransomware.
You are responsible for your cyber security, but having the right Cyber Risk Insurance policy in place will mean in the event of a cyber-attack you will have the crucial support required to ensure your Business can continue to operate with minimal disruption.
Cyber Risk Insurance is not just for E-Commerce or Online Businesses
Cyber Risk Insurance is an important consideration for all Businesses.
Cyber crime is on the rise and businesses in every sector and of every size can become exposed to a cyber attack.
Your Cyber Insurance or Cyber Risk Insurance Policy can include cover for both your own Business assets and cover for assets of others, usually your Customers.
Loss of or Damage
To digital assets such as data or software programmes.
Cover for loss of revenue, including possible reputational harm, in the event of a cyber incident.
Virus, Hacking and Denial of Service
Cover for the costs, repair or replacement following damage caused by a breach to your hardware, software or website.
Cover for cyber extortion expenses, including ransom payments to recover from an extortion threat.