Cyber Liability Insurance

The purpose of cyber insurance is to protect businesses from Internet-based risks and, more generally, from risks relating to information technology infrastructure and activities.

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.

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.

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.