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Cyber Liability Insurance
Protect yourself against cyber security risks with our specialist cyber insurance.
- Cover for data recovery, business interruption and intellectual property theft
- UK-based support
One of the UK's leading independent insurance brokers
Why choose cyber liability insurance with Towergate?
Affordable cyber insurance
Dedicated cyber security against the latest digital threats from just £12* a month.
Data recovery
Data recovery in the event of a security breach.
Intellectual property protection
Protection against the theft of your intellectual property in the event of a cyber-attack.
Pay Direct Debit
You can choose to split your payment into 10 monthly instalments. Please read our dedicated page on Direct Debit.
About cyber liability insurance
Cyber extortion insurance
We will protect you if a hacker tries to hold your business to ransom with any final ransom paid, as well as the services of a leading risk consultancy firm to help manage the situation.
Data recovery services
In the event you lose any important data, we can provide data recovery services. This may incur an extra cost on your behalf – check your cyber insurance policy wording for more information.
Cyber business interruption
We will provide compensation for loss of income, including where caused by damage to your reputation, if a hacker targets your systems and prevents your business from earning revenue.
Hacker damage reimbursement
We will reimburse you for the costs of repair, restoration or replacement if a hacker causes damage to your websites, programmes or electronic data.
When you need to make a claim, we'll guide you through the process and get your claim settled as quickly as possible.
- Find your insurance documents and make sure you have all your information at hand, including your policy number.
- Call the claims team on 0344 892 1384 and explain exactly what happened.
- Provide photos if requested to help us understand what happened as quickly as we can.
Ready to get covered?
- Fill in our online quote form or call us
- Purchase your policy
- Relax - You're covered!
Cyber liability insurance FAQs
Cyber insurance is designed to protect businesses from internet-based risks and, more generally speaking, risks relating to information technology infrastructure and activities. It can also help you to limit the damage caused by a successful attempt to access your business data. Cyber liability policies can offer support such as data recovery and business interruption cover which can help you to get you back on your feet in the event of a cyber-attack.
If you hold customer data, such as names, addresses or banking information, are reliant on computer systems to conduct your business, have a website, or are subject to a payment card industry (PCI) merchant services agreement, you should be protecting your customer data, which could be compromised in the event of security breaches e.g. due to hackers, computer system failure, breach of data protection, etc.
Cyber liability insurance can cover you for a range of different security breaches including:
- Data breaches following employee theft
- Data breaches following loss of a memory stick
- Cyber business interruption
- Denial of service attacks
- Data breaches following hacking
These are just a few examples of what could be covered by a cyber liability insurance policy.
Your business could be vulnerable to a data breach or loss of vital business services if you: hold customer details such as names and addresses or banking information; are reliant on computer systems to conduct your business; or are subject to a payment card industry merchant services agreement.
Cyber risks are unavoidable, but there are steps you can take to reduce the risks. Our experts can advise you on the best way to protect your data and business.
When investing in cyber insurance it is worth looking at the potential risks your business faces and if there are way to reduce them. Even large companies with departments dedicated to IT security are at risk of data breaches but there are some actions you can take which may reduce the threat.
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Regular training for staff - Hacking techniques are developing all the time and it is important that staff are kept up-to-date with the latest threats to keep an eye out for.
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Data encryption - This is different to having a password: it scrambles the data on a hard disk so that it can only be accessed with a decryption key. This is generally considered much safer than password protection.
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Storing portable devices at work - Limiting the chance of laptops or tablets being left in public can help to reduce the risk of hacking due to the loss of a device or memory stick. Although it is not always possible to keep these devices in the office it is certainly worth considering.
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Keeping up with legal changes - It is important that you stay up-to-date with any changes in the law to ensure that your insurance does not become invalid without your knowledge
Business in the following sectors may be suitable for our cyber insurance: accountancy, advertising and marketing, construction, consultancy, education, hospitality, hotels, law, manufacturing, media, publishing, recruitment, retail, technology, telecoms, transport, restaurants, etc. Please note that this cyber liability insurance policy is designed for businesses with an annual income of up to £10 million.
If you suspect a data breach, notify your adviser immediately. Next, you will be provided with an IT forensics assessment, legal support, call centre support, customer communications support and credit monitoring. Following resolution, care will continue to minimise the risk of future leaks.
This largely depends on the situation. If a computer is switched off, leave it off and prevent any further access. If a computer is running, please contact us as soon as possible and we can talk you through the most suitable procedure.
We will use all current methods at our disposal to determine the misuse of your equipment. These can include but are not limited to: recovering deleted data, establishing who has sent emails, showing a user's internet browsing history - even after it has been deleted, showing who created or last altered a document, and ascertaining if a file has been copied.
Yes. Policies are triggered by the breach of electronic and non-electronic data that includes theft and loss. This means that you have insurance for exposures that may range from a sophisticated hack to a sensitive piece of hard data ending up in the wrong hands.
Data breaches following employee theft, data breaches following loss of a memory stick, data breaches following hacking, cyber business interruption and denial of service attacks.
The Department for Business, Innovation and Skills reported that 74% of small businesses and 90% of large organisations suffered a data breach in 2014 and these breaches are on the rise.
Not exactly. It would be wise to carefully review your cloud contracts with legal counsel. Even if the risk is reduced, the liability may still fall to you. Remember: you can outsource the service but not the responsibility.
Even companies with large departments dedicated to IT security experience data breaches. A simple oversight like not updating software, inappropriate user authentication procedures for third-party vendors or losing an unencrypted laptop can lead to a breach.
Yes, with us you will have access to tools and resources to keep you up to date with evolving risks and information on how to establish a response plan.
To help you manage the cost of your cyber liability insurance premiums, we offer a quick and easy direct debit scheme for spreading payment over ten months. Please visit our dedicated Direct Debit page to find out more.
Cyber liability insurance articles and guides
26/10/2020
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