Cyber and Data Insurance
If your business holds sensitive client information (such as names, addresses, or financial information), uses computer systems, operates a website, or is subject to a payment card industry (PCI) merchant services agreement, then you could be vulnerable to a data breach or loss of vital business services.
Whether it comes as a result of system failure, employee negligence, or malicious attack, you could be risking loss of income, reputation damage, and legal and regulatory costs – not to mention the associated business disruption.
Cyber and data insurance offers comprehensive protection for your business’ computer systems and data (electronic or non-electronic.)
The benefits of this cover include:
- practical support in the event of a data breach including forensic investigations to find out what went wrong and confirm whose data has been put at risk, legal advice, notifying customers or regulators, and offering support such as credit monitoring to affected customers.
- compensation for loss of income, including where caused by damage to your reputation if a hacker targets your systems and prevents your business from earning revenue.
- payment of the costs associated with regulatory investigations or claims for damages against you for failing to keep customers’ personal data secure – including the payment of civil penalties levied by regulators (where allowed.)
- reimbursement for the costs of repair, restoration, or replacement if a hacker causes damage to your websites, programs, or electronic data.
- liability protection if you mistakenly infringe someone’s copyright by using a picture online for example, or inadvertently libel a third party in an email or other electronic communication.
In the event that you do suffer a loss, Isca Barum can also provide you with expert guidance to assist you with minimising the impact, and possible damage, to your business. Additionally, crisis containment cover is included as standard which includes access to a leading public relations firm.
If you would like a cyber and data insurance quote, please contact us on 0345 241 6501