Cyber Liability Insurance
If your business uses computers that are connected to the internet, you are at an increasing risk of a cyber attack. This includes attacks not only from hackers, but criminals and malicious acts by people you may know, such as upset employees.
You need to protect your data and that of your clients, suppliers and staff. But increasingly, even the most secure systems can be breached, and damages can potentially reach millions of dollars, destroying your business and reputation.
That means cyber liability insurance is an absolute must for your business.
However, it’s also important to make sure you have the appropriate level of cover (because not all cyber insurance policies cover the same things). We need to understand your unique situation and potential liabilities so that we can work out exactly what cover you require.
In the event of a cyber attack, or any breach of your digital data, cyber liability insurance can cover:
- Losses to your business – including costs and revenue replacement cover
- Losses to others – sums payable, regulatory fines, penalties and defence costs
- Cyber event response costs
- Contingent business interruption – costs and revenue replacement if external supplier suffers a cyber event
Cyber attacks are increasingly prevalent. They happen suddenly, and without warning.
And while all measures can be taken to secure your digital data, some events cannot be accounted for.
But you can insure yourself and your business against them. And that can protect your business from financial disaster.