Cyber crime – is your business covered?
If your business is dependent on technology, the right level of Cyber & Data Security protection is just as important as insurance for your business premises and its contents.
Policies can be tailored to reflect the particular risks facing your business, but will typically cover the costs of providing the following services:
- Public relations, crisis management, forensics and security specialist services – to pay for the cost of specialists to analyse how the incident or breach occurred in the first place and minimise its impact on the business.
- Information and communication asset rectification costs – designed to put your business back to the position that you enjoyed before your systems were damaged or your data was lost.
- Cyber Business Interruption costs – to indemnify the company for lost profit if it has to cease trading following a cyber incident.
- Regulatory defence and penalties –to cover investigation costs and fines imposed by the government or public authority regulator.
- Privacy breach costs cover – to cover the costs incurred in notifying those affected by a data loss, credit monitoring of those affected and setting up a call centre to field enquiries of concerned clients.
- Dishonesty of employees – to protect against the actions of employees who are trusted with access to company information but whom may act dishonestly.
- Cyber Extortion cover – to protect the company from potential cyber extortion by paying a ransom for genuine threats along with the negotiation, handling, contracting and delivery of monies.
Your policy should also protect you against:
- Failure in the handling, managing or storing of personal or corporate data
- Unintentional violation of government or public authority legislation or regulation regarding security
- Failure to protect against unauthorised access to, use of, denial of service attack by a hacker or transmission of a virus to your systems
- Unintentional transmission of a virus
- Reliance in good faith by a third party on a hackers fraudulent use of information
- Damage, destruction, alteration, corruption, copying, steeling or misuses by a hacker to your technology systems
- Infringement of IP
- Improper deep linking etc arising from publishing or broadcasting
- Financial transfer indemnification
- Withdrawal of content
How Insure Risk can help
At Insure Risk, our mission is to provide our clients with a high quality insurance service that exceeds their expectations and is underpinned by our Chartered insurance broker status. When we require more specialist areas of expertise, we work in partnership with a range of other professional organisations so that we are able to offer our clients a seamless and comprehensive insurance service.
In partnership with our trusted colleagues at QBE, we can offer our clients a dedicated claims handling service if the worst happens and you need to make a claim. The team at QBE has a wealth of experience in technology-related claims including cyber crime, and because claims handlers come from both a legal and insurance background, they understand the need to ally commerciality and common sense to the defence of a claim.
Because speed of response is vital when it comes to cyber threats, QBE has enlisted the help of the experts at red24 – a global crisis management company – who can deal with incidents 24 hours a day, seven days a week, so even if you discover a cyber breach at 1am on a Sunday morning, there are a team of experts ready and able to fight your corner.
To find out more about how we can help meet your Cyber & Data Security Insurance needs, call Insure Risk on 0845 1304207 or email us at firstname.lastname@example.org