Cyber Cover Insurance is one of the fastest growing areas of cover as businesses are looking to for protection against new technological risks.

Also known as Cyber Liability or Cyber Risk Insurance, it is an insurance policy and service designed to protect your business from threats in the digital age, such as data breaches or malicious cyber hacks on work computer systems.

Your business should consider this cover because we are all more reliant on technology to drive our core business operations. If your business uses any kind of technology, portable device, printer or computer equipment to send or store electronic data within your computers, network or systems;  you may benefit from Cyber Cover.

39% of businesses in the UK identified cyber attacks in their business in 2021

The risk of losing funds, data, or your systems access being denied or failing due to accidental or malicious interference has never been more likely.

Your systems and data are your responsibility and are vulnerable to cyber events by criminals who are increasingly looking to infiltrate and take advantage of businesses.

Cyber Cover doesn’t just provide IT support.

Your business. Get Covered.

START YOUR QUOTE


Trusted

Trusted by thousands of Professionals.


Tailored

Get tailored insurance quotes based on your circumstances.


Support

UK-based expert support, online and on the phone.

Single point of failure

The risks of cyber events are evolving rapidly, with new risks emerging as technology advances and new regulations are put in place.

Unfortunately, even some of the most tech-savvy individuals and businesses can fall victim to cyber events. While there are numerous types of criminal activities occurring online, there are a few common cyber events to be aware of:

Ransomware

Ransomware designed to block access to your computer system until a sum of money is paid.

Data Breach

A Data Breach where sensitive data is copied, viewed, or stolen from your computer system.

Social Engineering and Identity Theft

Social Engineering where individuals have been manipulated into divulging confidential or personal information that could be used for fraudulent purposes An example of this would be a phishing scam where the individual has received what looks like a legitimate invoice and pays it resulting in a misdirection of payment.

Human Error

Human error e.g. losing a laptop with sensitive data on there.

“Risk Management, in particular, Cyber security and insurance is a pivotal part of your business. Where Points of Failure within a product or service will be exposed and exploited by Cyber Criminals looking to ‘hack’ into systems for their own commercial gain.”

Mark Philmore, Client Director

Cyber Cover FAQs

What is Cyber Cover?

What is Cyber Cover?

Cyber Cover offers assistance if a cyber event affects your business or a clients ability to operate.

There are many different Cyber Cover insurance policies in the market. They would typically cover two types of party:

  • You (aka First Party Cover) – First-party Cyber Cover gives you access to specialists and financial support to get your business, and its network/systems back up and running as soon as possible following a cyber event, including the cost of investigating a cybercrime, recovering data lost in a security breach and the restoration of computer systems, loss of income incurred by a business shutdown, reputation management, extortion payments demanded by hackers, and notification costs, in the case you are required to notify third parties affected.
  • Others affected by a Cyber Event (aka. Third-party cover) – Third-party cover provides financial support for cyber event claims made against you, where a clients data, network or systems have suffered a breach.
What types of Cyber Events and Attacks are covered?

The risks of cyber events are evolving rapidly, with new risks emerging as technology advances and new regulations are put in place.

Unfortunately, even some of the most tech-savvy individuals can fall victim to cyber events. While there are numerous types of criminal activities occurring online, there are a few common cyber events to be aware of:

  • Ransomware – Ransomware designed to block access to your computer system until a sum of money is paid.
  • Data breach – A Data Breach where sensitive data is copied, viewed, or stolen from your computer system.
  • Social Engineering – Social Engineering where individuals have been manipulated into divulging confidential or personal information that could be used for fraudulent purposes. An example of this would be a phishing scam where the individual has received what looks like a legitimate invoice and pays it resulting in a misdirection of payment.
  • Human error – Human error e.g. losing a laptop with sensitive data on there.
Do I need Cyber Cover Insurance?

Cyber Cover insurance cover should be held by any business which:

  • holds personal data (such as names, addresses, and banking information)
  • electronically stores business-critical data
  • is reliant on technology to conduct business
  • has a website
  • has an online bank account
  • is subject to a payment card industry (PCI) merchant services agreement

With a Cyber Cover Insurance policy, a business will be covered from both losses sustained by a breach as well as any liability for damages that may be claimed by a third party.

How cyber insurance can help protect your business

How cyber insurance can help protect your business

  • Policy – Provides necessary coverage for risks that are beyond an organisation’s ability to remediate. Also providing training for employees to make them more cyber risk aware
  • Service – Provides instant access to expertise from IT forensics to privacy lawyers and reputational experts, helping to get your business operational quickly and reducing the financial impact
  • Peace of mind – Demonstrate to internal/external auditors, compliance teams and stakeholders that resources are in place to address cyber business risk

START YOUR QUOTE

Contact our friendly team today to discuss your insurance needs. Whether you call us for a chat or drop us an email. We will aim to respond within 24 working hours.

We look forward to helping you find what you’re looking for.

Opening hours
Monday to Friday 09:00 to 17:00

Barlow House
Minshull Street
Manchester
M1 3DZ

Opening hours
Monday to Friday 09:00 to 17:00

    * required field

    Before submitting your enquiry please read our Privacy Policy which explains how we handle data.

    Privacy Policy