Every business that uses a computer should invest in Cyber Liability Insurance.
Around 52% of businesses think they have cyber cover but in reality it’s less than 10% that actually do. And with 1 in 3 small UK businesses hacked (that’s one business every 19 seconds) it’s more crucial than ever to be protected.
Your reputation is your number one asset, so why not protect it?
As a broker we are good at the unusual, the complex and the specialist. We take the time and effort to get it right for you and your business.
Roxburgh Group Insurance - advice and service you can rely on.
With regards
Graeme Elliot
Director
Cyber Liability Insurance -
What is Cyber Liability Insurance?
Cyber Insurance provides businesses with protection against financial loss resulting from the loss of personal and/or corporate data. Cyber Liability Insurance also addresses third-party risks ranging from the loss of a single laptop or file, to the hacking of a company’s website or network.
Risk Types
We can break Cyber risk into two main sections:
Data Liability Event
Loss or suspected loss of third party data for which the client is legally responsible.
Breach of worldwide privacy legislation.
E.g. Lost laptop, Stolen storage device/rogue employee.
Network Security Event
Negligent or inadvertent transmission of malware to a third-party.
Negligent failure to secure the network or computer system which results in unauthorised access.
E.g. Virus transmission, hacker attack, extortion.
Do I Need Cyber Liability Cover?
Cybercrime is one of the fastest growing crimes in the world and most attacks are not covered by standard property crime insurance policies. There is a lot of sympathy in the consumer market when it comes to Cyber-attacks, however being prepared is much better than clearing up a mess.
With the recent GDPR regulations you now have increased responsibility for your data and there is also an increase in cost of a data breach.
As well as the Cyber Liability Cover, we can offer you local underwriter expertise which will help minimize any loss from within your business.
We will also give you access to Cyber security updates with monthly newsletters which will help you understand your business exposure and vulnerability to ensure you have the best response plan.
Call us today on 0141 952 0371 or 01292 314313