Breaches of your online data or hacking of your network are both fast growing risks that can affect all businesses, regardless of size.
If you trade online, or even if you just store your customers data on a computer with an internet connection, you are at risk of Cyber Crime. Cyber Liability Insurance can protect you against the implications of a data security breach.
As the world becomes more internet dependent, more and more businesses hold data on their customers as well as information about their company, which could be at risk from hackers, cyber criminals, or even inadvertent loss or misuse of data by your own staff.
Our Cyber Liability Insurance includes:
In the event of a breach, there are a lot of government rules to follow, including the notification of your customers. This can help cover the costs of any advice or legal action you wish to take. This can include fixed overheads such as rent, wages and bills, as well as loss of income while you’re not able to work. If customers choose to make a claim against you for not being able to keep their details safe, we can provide cover for this. This can be costly, so having the proper insurance can off set the costs of this. This can include, logos, branding and names as well as ideas. Cyber Extortion cover can help with the costs of this. With Ellis David, we can provide you with the resources to mitigate and understand your cyber risks to help you prevent them, and how to deal with them should they occur.
Who Needs Cyber Liability Insurance?
More often than not, Cyber Liability is excluded from your Public Liability Insurance, so Cyber Risk Insurance is a must for any company if you:
• hold sensitive customer data such as names and addresses, credit card details or banking information
• are dependent on computer systems to conduct your business
• have a website
• have a payment card merchant services agreement
If so, then your business could be interrupted by cyber crime.