Cyber Liability Insurance
Who Needs Cyber Liability Insurance?
The police now see more cyber enabled crime than all other crimes combined so the risks should be taken seriously but are you insured? Cyber liability insurance is designed for organisations that hold or handle data who are at risk of that data being lost, corrupted or stolen and the financial consequences of a deliberate or accidental breach. Some of the types of information at risk include:
- Customer details
- Employee details
- Accounts & bank details
- Medical records
- Web sites
- Control systems
- Online sales
- Booking systems
- Stock control
- Regulated information – PCI, FCA, ICO, etc
- Access, security and fire systems
If you consider the consequences to your organisation of having this data lost, corrupted or stolen a worry then you should insure against that risk.
What is Cyber Liability Insurance?
Cyber liability insurance can provide technical, legal, PR and financial support to cover a wide range of eventualities including:
Loss, damage or theft of own data
Loss, damage or theft of third party data
Forensic investigation & specialist IT support
Legal assistance and defence costs
PR & reputation management
Notification costs & credit monitoring
Fines & penalties
Lost income / business interruption
Extortion / ransoms
How much does Cyber Liability Insurance Cost?
We have policies starting from under £500, but the cost will depend upon the amount of cover you want, the cyber security systems you have in place, the nature and quantity of your data and the nature of your business or organisation.
Be careful when selecting cyber liability insurance as there are some polices on the market that actually cover very little.
How To Get a Quote
For a quote or assistance with cyber liability insurance give Mann Broadbent a call on 01905 612336 or send us an email here
For more information on cyber liability insurance you can visit the website of our sister company Sutcliffe & Co