Cyber Insurance Focus

Here we have highlighted just a few of the ways cyber insurance can benefit organisations in your sector in a time of crisis:

This section of cover will generally pick up all of the costs involved in responding to a cyber incident in real time, including IT security and forensic specialist support, gaining legal advice in relation to breaches of data security. One of the most important aspects of a cyber policy is that it provides access to the right specialists when time if of the essence as well as paying for their services. This can be the great proportion of the costs of a claim.

Cyber Insurance Covers

It’s important to note that cyber insurance includes a wealth of other benefits which can be found here:

Cyber Risk Management Priorities

Insurance should only form part of your risk management strategy. Here is a brief overview of some of the areas we would advise you look into and how we can assist you to ensure your business is as robust as possible.

Cyber Risk Report – These reports can provide a score akin to a ‘cyber credit check’ which is given context by the peer to peer comparisons and can help you to know where to start when tightening up your security.

Cyber Security Training – Cyber insurers look favourably upon this sort of proactive approach and some providers even include an element of this sort of insight into their packages.

Cyber Security Certification – These certifications can provide reassurance to your clients that you take cyber threats seriously and can be a trusted partner in their supply chain.

Incident Response Planning – A comprehensive incident response plan will mean you are able to deal with any incidents and dramatically mitigate any losses you may incur.

Security Consultancy – For turnover of £1m – Audits. From penetration testing to regular consultancy with a virtual CISO.

Claims Example

A Southampton based packaging manufacturer suffered a ransomware attack where all of their business critical files were encrypted. They were told they would have to halt products unless a £50,000 ransom was paid. The attack was investigated by a forensics team who were able to find a way to unencrypt the files without paying the ransom and the insurer also paid for loss of income while systems were down.

Contact our Expert Cyber team to discuss your businesses

Make an Enquiry

We can help you connect with the right cyber insurer and tailor a risk management program to suit your business.

For a free no obligation conversation please contact one of our cyber insurance experts on 01242 898387 or Contact us

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