Do you rely on computers to run your business?

28th August, 2019

The wide-spread adoption of technology has resulted in ever-evolving cyber risks that can have a disastrous impact upon your business and its viability; to help protect your business - both financially and reputationally - robust cyber insurance is an essential consideration for all businesses.

In 2019’s Cyber Security Breaches Survey, it was reported that 32% of businesses had identified cyber breaches or attacks, and just 11% of the surveyed businesses had invested in cyber insurance.

Cyber-crime is when someone uses a computer or the internet to commit a criminal offence; you can protect your business from the threat of cyber-crime with cyber insurance.

As an example, if someone steals your laptop and you are unable to run your business, or if someone hacks into your system and steals sensitive customer information, the time and cost to your business could prevent you from trading, which may leave a huge unexpected hole in your cash flow.

Cyber insurance can help to protect you by covering the cost of repairing your system, restoring data and recovering your website, as well as covering the legal costs if you are sued. Insurance can also be extended to include reputational damage, the cost of temporary equipment and loss of revenue while things are put right. 

As an independent insurance broker, we can help you to understand the cover you need.

By taking a more holistic approach - in which the potential wider impact of cyber attacks are considered and protected against - we can help you to protect your business from cyber risks. Get in touch with us today 

*Source: assets.publishing.service.gov.uk/government