Cyber insurance is a speciality insurance product to protect businesses from Internet-based risks, and risks relating to IT infrastructure and activities.
Technology is becoming increasingly important in our lives. With this comes an increased risk.
In recent times cyber-attacks have been on the rise, and no business is too small to be a target of cybercrime.
Cyber Liability insurance offers you financial protection, should you be the victim of a cyber-attack, but also covers you for legal costs in defending yourself against GDPR breaches. It will help you get back on your feet after a cyber-attack.
If your business handles any sensitive data, then you should be considering how you are going to protect this data. Sensitive data includes names, addresses or banking information.
You should also consider cyber insurance if you rely on your computer systems in order to conduct your business. If your systems fail, then you will be unable to operate and a data breach could expose your customer data.
Cyber liability insurance will cover you for a number of different security breaches. These include data breaches that occur as a result of losing a memory device, employee theft or hacking.
The cost of your policy will vary based upon several factors. This includes the annual revenue of the business, industry, the data held within your organization and the security level of your network.
For further information and guidance on all aspects of cyber insurance talk to our cyber experts today.