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Insurance

Cyber-risk Management

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Insurance should be considered the long stop. The safety-net.

In the material world you may have fire extinguishers and intruder alarms. You need to consider the electronic equivalent in the Cyber World.

Cyber security and the protection of information can be a challenge for companies of all sizes. It is important to note that hackers are not the only threat. Modern businesses rely heavily if not totally on their computers and a computer does not have to be online to be open to abuse. Having so said, any system on the internet for services such as online marketing, sales, administrative functions, account management, credit card processing, etc. is particularly vulnerable.

Any intrusion that disrupts any of your business activities can, in addition to loss of turnover, lead to brand and reputation damage, issues with regulation, shareholder/director dissatisfaction, and ultimately financial loss.

Trade Risk Chart – Check your threat levels

Sample CRIF Cyber Risk Chart

Check your level

All Businesses are faced with an increasing number of cyber threats including some of the following:

Data Breach
Support in the event of a data breach (electronic or otherwise) including forensic investigations, legal advice, notifying customers or regulators, and offering support to affected customers.

Business Interruption/Ransomware
Compensation for loss of income if a hacker targets systems and prevents business from generating revenue.

Hacker Damage
Protection you if a hacker tries to hold a business to ransom in response to avoiding an unauthorised access to, use of or denial of service attack against systems or documents.

Data Extortion
Protection if a hacker tries to hold a business to ransom in response to avoiding an unauthorised access to, use of or denial of service attack against systems or documents.

Notification Costs
Cover for costs to draft, send and administer notification communications to those whose data has been stolen, misplaced or compromised.

Intellectual Property
Protection for mistakenly infringing someone’s copyright, by using a picture online for example.

Defamation
Inadvertent libel or slander of a third-party in an email or other electronic communication.

Privacy Protection
Costs to defend and settle claims made for failure to keep customers’ personal data secure. Costs associated with regulatory investigations and settle civil penalties levied by regulators where allowed.

Quick Quote Form / Proposal Form

Completing the form will do two things:

  • make you consider where you are or might be vulnerable
  • enable us to obtain bespoke quotations for you – without any obligation on your part.

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