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Making your cyber insurance work for you

Today, technology is at the forefront of our personal and professional lives. However, with these ever-increasing advancements in technology comes the rising threat of cybercrime. It is also important to recognise that cyber criminals do not discriminate based on business size and their attacks are more sophisticated than ever.

Before we start, you may well ask, is cyber insurance right for me and my business? Firstly, to fully understand what kind of cyber insurance policy is right for you, you need to identify the risks you face as a business. Common types of incidents include ransomware, data breaches, denial of service and phishing attacks. For further advice on this, we recommend taking a look at the cyber insurance guidance by the National Cyber Security Centre (NCSC).

Secondly, should you face an incident, what services and support are made available by cyber insurance and how will it help your business get back up and running? At Eastwood Insurance Brokers, our policy includes 24/7/365 cyber breach response assistance from market leading experts. This includes remediation costs for credit monitoring, cyber extortion, data restoration, forensics, legal representation expenses, notification and public relations.

So, you may have established that you and your business have a cyber insurance need – but what now? As always, the Eastwood’s team are happy to discuss your requirements.

In the meantime, you may be thinking: what steps can I take to protect my business? To minimise the risk of exposure, we suggest having a robust IT policy that all staff are familiar with, secure data storage, encrypting files when transferring information and most simply, secure passwords – see our previous guidance on how to make your passwords stronger.

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Tel: 01484 820000

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Eastwood Insurance Brokers is a trading style of Eastwood and Partners Ltd, authorised and regulated by the Financial Conduct Authority. Registered office: Northumberland House, Northumberland Street, Huddersfield HD1 1DT. Registered in England and Wales company no. 2560460.

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