Cybercrime is on the increase and it is no longer just a large company problem, with over 74% of small businesses in the UK having fallen victim to a cyber breach.
With this trend affecting so many of our clients, we wanted to be able to provide a solution and have been working hard on behind the scenes on doing so. We are delighted to announce the launch of our new and exclusive Cyber Insurance policy, developed with one of the UK’s leading Cyber Insurers.
Cyber threats pose such a real risk to small and medium businesses that it felt very important to us to develop a product to address this. We teamed up with the world’s largest underwriting agency, an experienced Cyber Insurance provider, and after extensive market research we have developed a policy which is flexible and wide ranging. We wanted to be able to offer our clients the peace of mind of being protected against the ever increasing range of data security risks with a policy that is flexible enough to be tailored to their specific needs.
One of the most daunting aspects of dealing with a cyber incident is knowing exactly what to in the immediate aftermath and how to prevent further exposure. Most companies do not have sufficient expertise in-house. Our new product includes access to industry leading specialists to immediately assist and advise when a breach or suspected breach arises, mitigating further disruption and risk.
We wanted our policy to be available to businesses of all sizes and across many industry sectors and to include all of the standard covers such as business interruption, remediation costs and financial costs arising as well as additional covers which can be found here in our summary document.
To reflect our intent to provide a leading policy wording, we have incorporated a social engineering extension which covers theft of money by impersonation. We are pleased to be able to offer a product which will be an important addition to many businesses’ insurance portfolio and would be happy to provide more information.
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