Cyber Liability Insurance

Does your business use email, have a website or store customer data? Would your company be able to continue operating if these facilities experienced a cyber attack or data breach? Unfortunately, these risks are on the increase, with half of all businesses suffering an attack in 2016 with the average cost to a small business reaching £20,000. 

The aftermath of a cyber attack can be both costly and take a considerable amount of time to fix. As hardware may need to be repaired or replaced and your software and data may need to be restored and updated, this could result in your company having to cease trading whilst this is being restored.

In addition, there is the risk of a cyber criminal holding your systems to ransom via cyber extortion ransomware programs and the costs that may be incurred to meet the demands of these criminals. 

Here at Barraclough & Partners we can help you to protect your business against these eventualities.

Key Benefits

  • Flexible sum insured options so the cover can grow with your business.
  • Extends to include legal fees and compensation costs if you get sued for losing personal data.
  • Cyber extortion and ransomware demands are covered.

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    • Breach costs
    • Costs for damage to data or programs
    • Insured’s network failure – income loss and extra expense
    • Cyber extortion and ransomware
    • Network security, privacy and confidentiality liability
    • Network security, privacy liability (regulatory)
    • Multimedia liability
    • Cyber terrorism
    • Payment card industry data security standard – fines penalties and assessments

If your business use email, have a website or store customer data, this is something you may want to consider. As the aftermath of a cyber attack can be both costly and take a considerable amount of time to fix. As hardware may need to be repaired or replaced and your software and data may need to be restored and updated.