Cyber Insurance
A cyberattack can disrupt your business in minutes. Be prepared for what comes next.
Cyber Insurance protects businesses against financial losses and liabilities arising from cyberattacks, data breaches, ransomware, system compromise and other covered cyber incidents.
Cyber Insurance protects businesses against financial losses and liabilities arising from cyberattacks, data breaches, ransomware, system compromise and other covered cyber incidents.
We work with leading insurers
across General, Health and Life Insurance
What can Cyber Insurance cover?
Depending on the policy selected, cover can include:
Data Breach Response Costs
Costs associated with investigating and responding to a covered data breach.
Cyber Incident Response
Access to specialists such as forensic investigators, legal advisors and cyber incident response professionals following a covered event.
Ransomware & Cyber Extortion
Certain losses and response costs arising from ransomware or cyber extortion incidents, subject to policy terms and applicable law.
Business Interruption
Loss of income and additional expenses resulting from covered disruption to computer systems.
Data Restoration
Costs of restoring or recreating data and software damaged or lost following a covered cyber incident.
Privacy Liability
Claims arising from the loss, disclosure or misuse of personal or confidential information.
Network Security Liability
Third-party claims arising from failures in network security.
Regulatory Defence Costs
Certain legal and defence costs arising from regulatory investigations following a covered privacy or cyber incident.
Cyber Crime
Certain policies may provide or offer extensions for specified cyber-related financial losses, subject to the scope of cover.
What could happen after a cyber incident?
The cost of a cyberattack can extend far beyond repairing computers.
A business may have to deal with:
- Ransomware attacks
- Data theft
- Customer information being compromised
- Business systems becoming unavailable
- Email account compromise
- Malicious software
- Employee or third-party security failures
- Regulatory investigations
- Customer claims
- Forensic investigation costs
- Legal expenses
- Data restoration
- Loss of revenue while systems are unavailable
- Reputation management expenses
Cyber Insurance can help the organisation respond financially and operationally to covered incidents.
Who should consider Cyber Insurance?
Cyber Insurance is relevant to almost every modern business, particularly organisations that:
- Store customer or employee data
- Accept online payments
- Depend heavily on computer systems
- Use cloud-based applications
- Operate websites or mobile applications
- Provide technology services
- Handle financial information
- Store confidential client information
- Have remote employees
- Work with international customers
- Depend on third-party technology providers
You don't need to be a technology company to have cyber risk.
Why choose Cyber Insurance?
Respond quickly when an incident occurs
A serious cyber incident requires immediate technical, legal and management response. Cyber policies can provide access to specialist incident-response resources.
Protect against business interruption
If critical systems become unavailable, the resulting loss of income can sometimes exceed the cost of repairing the systems themselves.
Protect customer and employee data
A data breach can result in investigation costs, regulatory exposure and claims from affected parties.
Protect your balance sheet
Cyber incidents can create multiple expenses simultaneously — forensic investigation, legal costs, data restoration, business interruption and third-party claims.
Cyber Insurance is more than reimbursement
One of the most valuable aspects of a good Cyber Insurance policy can be the incident response support available when something goes wrong.
Depending on the insurer and policy, this can include access to:
- Cyber forensic specialists
- Incident response teams
- Legal advisors
- Data breach specialists
- Crisis management professionals
- Ransomware response specialists
- Other specialist service providers
When a cyber incident occurs, knowing who to call immediately can be as important as the financial cover itself.
How much Cyber Insurance does your business need?
The appropriate limit depends on factors such as:
- Annual turnover
- Number of customers
- Type and volume of data stored
- Dependence on technology
- Potential business interruption
- Online transactions
- Nature of customer information
- Regulatory exposure
- Geographical operations
- Contractual requirements
- Previous cyber incidents
Our corporate insurance team can help you assess these exposures before deciding the appropriate cover.
Already have a Cyber Insurance policy?
We can review your existing policy and help you understand:
- Overall policy limit
- Cyber business interruption
- Waiting periods
- Data restoration costs
- Ransomware / cyber extortion cover
- Privacy liability
- Network security liability
- Incident response services
- Regulatory coverage
- Retroactive date
- Major exclusions
- Deductibles
- Claims notification requirements
Share your existing policy with us and our corporate insurance team can review it.
Frequently Asked Questions
No. Any business that uses computer systems, stores data, accepts digital payments or depends on technology can have cyber exposure.
Cyber incidents don't wait. Make sure your business is prepared.
Our corporate insurance team can help you understand your cyber exposures and structure appropriate protection for your organisation.
Coverage is subject to the terms, conditions, limits, security requirements and exclusions of the policy issued by the insurer.