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Cyber
Insurance
Independent service from your local insurance specialists
Cyber attacks, data breaches and online fraud are some of the biggest risks facing businesses today. Without the right protection, a single incident could cost thousands of pounds in recovery, fines, and reputational damage.
Cyber insurance can offer a safety net, helping businesses of all sizes recover quickly and minimise any losses.
At Coversure, our brokers can source cyber insurance policies from leading insurers to meet a wide range of business needs.
Whether you’re a small business handling customer payments or a large organisation storing sensitive data, a cyber security insurance policy can give you the reassurance you need.
Your local Coversure office can offer you tailor-made protection, so start your quote today.
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What Is Cyber Insurance?
Cyber insurance, sometimes called cyber security insurance, cyber protection insurance, or information security insurance, is designed to cover businesses against digital risks. A typical cyber insurance policy may help with:
- The costs of responding to cyber attacks
- Managing data breaches and customer notifications
- Recovering from ransomware demands
- Covering legal fees and regulatory fines
- Business interruption following a cyber event
Cyber insurance cover works much like other business insurance, offering financial and operational support when things go wrong. It is sometimes also referred to as data protection insurance, as it helps protect businesses that process or store sensitive information.
Who Needs Cyber Insurance?
A wide range of modern businesses could benefit from some form of cyber insurance coverage. If you use computers, store client or supplier data, process card payments, or run online systems, your business may be at risk.
- Small businesses and SMEs – often targeted because they have limited cyber security budgets. Specialist cyber insurance for small businesses and SME cyber insurance options are available.
- Customer-facing companies – retailers, cafés, and professional services firms that handle personal and financial data.
- Organisations under compliance obligations – those required to meet standards such as Cyber Essentials insurance or GDPR compliance.
- Firms working with third-party data – may need third party cyber insurance to protect against liability for client losses.
- Coversure’s brokers can source cyber liability cover and other protection to ensure your business stays resilient.
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.
What does Cyber Insurance cover?
Coversure can source different types of cyber insurance, ensuring businesses get the right level of protection. Depending on your needs, your policy could include:
An attack that contaminates another’s system
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
An attack that leads to Legal Action
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
An attack and you need to pay Consultancy Fees
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
Hacker Damage
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
Data Loss
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 insurance
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.
Business Interruption
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
Why Choose Coversure for Your Cyber Insurance?
Coversure is more than just an insurance cyber provider. As one of the UK’s leading cyber insurance brokers, we give businesses local expertise with national reach. Our brokers will take the time to understand your situation and source policies that meet your requirements.
From cyber attack insurance to cyber crime insurance cover, our team has access to a wide range of insurers. Whether you need comprehensive protection or a specific cyber security and insurance solution, Coversure can help.
By choosing Coversure, you’ll benefit from:
- Personal service from your local broker
- Access to a broad panel of trusted insurers
- Advice on everything from cyber insurance claims to policy options
- A reliable partner ready to discuss your business needs
How Much Does Cyber Insurance Cost?
The cost of cyber insurance varies depending on your business size, industry, data handling, and coverage needs. For example:
- A small business may find an affordable cyber security insurance for small business policy.
- Larger firms handling sensitive data may require higher-level cyber insurance coverage, increasing premiums.
- Companies in sectors such as finance or healthcare may face higher costs due to stricter regulations.
- Coversure offers a cyber insurance brokerage service, meaning we can compare options from cyber insurance companies and data protection insurance companies. We’ll help you find the most suitable cyber insurance carriers to meet your requirements.
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.
Cyber Insurance FAQ
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 .
What does cyber insurance cover?
It can include cyber breach insurance, ransomware protection, cyber crime cover, business interruption, and cyber liability coverage.
What is cyber security insurance?
Cyber security insurance, sometimes called what is cyber security insurance in online searches, protects against financial loss from digital threats such as hacking and data breaches.
What is cyber liability coverage?
What is cyber liability coverage? It’s protection against claims and legal costs following cyber incidents, including compensation and regulatory fines.
Do small businesses need cyber insurance?
Yes. Small business cyber insurance and cyber insurance for SMEs provide affordable cover, ensuring even smaller firms can recover from cyber risks.
How quickly can I get a quote?
With Coversure, you can get a cyber insurance quote quickly by contacting your local broker.
