Regulated by the UK Financial Conduct Authority, Essex & Suffolk Insurance Brokers provide businesses of all shapes and sizes, with up to date advice on all business risk – many risks are known but the emergence of .cyber-crime is a new one!

There are no physical accidents or events – no l injuries to employees, or buildings burgled, or stock, vehicles or equipment being stolen – it’s all done via technology with clever criminals attacking your systems and computers so its very difficult to understand or prevent.
 

Cyber Liability Insurance

 
A number of leading insurers have reacted by developing bespoke insurance that will protect you if your computer systems and data experience an external data breach or an attack by a malicious hacker that affects the computer systems.

It can help you to recover from the financial repercussions, stolen data, and potential loss of customers and damaged reputation that may result as a consequence of a cyber-attack.

Any business may be subject to a cyber attack that causes network outage, service interruption and security breaches, so it makes sense that cyber security insurance is a sound investment for your business. This type of insurance will support data recovery and protect you against the costs involved to investigate and resolve the incident:
– including ransomware (cyber extortion)
– data breach
– cyber business interruption
– hacker damage, and
– crisis containment for reputational damage.

As of April 2018, with the introduction of the General Data Protection Regulation (GDPR), a company can now be fined if any client data is lost, stolen or leaked. Therefore, if your business deals with sensitive client data, names, addresses and banking information, for example, protection is imperative should a cyber-attack occur.

Essex & Suffolk Insurance Brokers can ensure you have the right level of cover for your business by considering the size of your business, dependence on computer systems, and the amount and type of confidential, personal and sensitive data that your company holds.

If you would like some advice or a quote for cyber security insurance, please complete the form below or give Nick Thurston a call today on 01206 845945.