What Is Cyber Insurance?
- Data loss
- Extortion claims
- Network damage
- Business interruption
- Legal fees
Need a cyber insurance quote? Let the independent specialists at your local Coversure compare their markets to find you great cyber insurance cover. Your local Coversure office can offer you tailor-made protection, so start your quote today.
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With cyber-attacks on the rise in the UK – Software Advice reported that 62% of UK-based SMEs experienced an increase in cyber threats in the last two years – businesses large and small need to take the threat seriously.
If your business stores data, uses devices connected to the internet, such as computers or mobile phones, or has a website, it risks a cyber-attack. Organisations that can benefit from having a policy include:
This list could go on and on. As more devices connect to the internet – the so-called ‘Internet of Things’ – the routes through which hackers can attack will continue to grow, and the risks will rise.
If you’d like some advice on whether this type of cover is right for you, please get in touch with your local Coversure office. They’ll be happy to give you the help you need to keep your business safe.
Whether you have a large business with premises up and down the country or run an independent not-for-profit, this cyber insurance can protect you against the daily threats that the modern era can bring. Cyber insurance through Coversure offers a package of protection that allows you to cover multiple risks on a single policy* and can help you should you be the victim of:
If, as a result of an attack, your system infects another’s and causes the attack to spread, you could be held liable. Contamination cover assists with the cost of legal battles and data recovery if your system infects someone else’s
Should the loss of your data result in a customer or member of the public suing you under the Data Protection Act, you could be looking at a costly legal battle. Legal cover will help with the costs of this
If you need to speak to an online security expert to get your business back in working order, then your policy can pay consulting fees so that you can talk to the appropriate parties and get the help you need
This business-critical policy feature will pay for repairs to any of your digital properties in the wake of an attack. So, if a hacker takes your website down or breaches a database, hacker damage protection will assist with the costs of getting your business back up and running as soon as possible
If an attack causes you to lose or have data stolen, your policy will cover the costs of data recovery services. It will also help you regain data so you can get back to your day-to-day activities
Cyber-attacks are dangerous, potentially costly, and on the rise. 39% of U.K. firms experienced a security breach, cyber-attacks are up 10% on 2021, with 93% of large organisations have been targeted, according to The Department for Business, Innovation and Skills**. Today, cyber insurance can be considered as essential as protecting your stock or employees. Cyber insurance allows you to remain protected from the costs of ransomware attacks, data loss, reputational damage, and more.
If something catastrophic happened to your business – such as a fire or flood – and your premises is forced to close for a while, could you cope? With no money coming in and bills needing to paying, would you be able to keep putting food on your table while not doing so for your customers? Business interruption cover provides you with an income while your business is out of action, providing much-needed peace of mind in a time of stress
Never connecting your business’s computers or any web-enabled device, such as a phone to the internet is the only way to guarantee your system can’t be hacked. Of course, that’s unrealistic, so what can businesses do to protect themselves from cyber-attacks? The National Cyber Security Centre (NCSC) recommends several actions, including:
The best way to find out how much protection you need is to contact your local Coversure. They’ll be able to advise you as to what you need and create a package of Cyber cover for you.
This can be a complex area of cover, so to help you get the protection you need, here is Coversure’s cyber insurance frequently asked questions. We hope they will be of use, but if you’d like some personalised independent advice, contact your local Coversure .
No, but as we have shown, it offers protection from several significant risks and is well worth considering
Getting a quote is easy; contact your local Coversure office or start your cyber insurance quote today
That will depend on several factors; the size of your business, the type of work you are doing, and the chances of an attack
Cyber criminals aren’t too fussy about who they attack. While headlines are grabbed by breaches at big-name firms such as TalkTalk or Spotify, solo contractors and the self-employed are also at risk. This makes having cyber insurance in place a wise decision
If your business is online, it’s likely to face several threats, from being locked out of your site to having your social media channels hacked. Again, this makes having cyber insurance in place a wise decision
Various forms of data can be protected, including:
Typically, you won’t be able to claim if:
If you’d like a Cyber Insurance quote from Coversure, please contact your local Coversure office or start your quote here. Our independent brokers will search their markets to find you the right policy at the right price to keep your business protected.
* Policy information is correct at the time of writing. Policy details, limits, and exclusions are subject to insurer’ changes. When taking out a policy, your local Coversure office will be able to advise you of the specifics of your cover.