Cyberattacks are an ever-increasing threat that are only becoming more sophisticated. We help identify and manage your unique cyber risks to mitigate the impacts of these digital incidents.
Cyber Liability Insurance helps protect businesses from the financial losses and legal liabilities associated with cyber incidents. This can include data breaches and ransomware to system failures and denial-of-service attacks.
Hacking, phishing and malware are used to gain unauthorised access to your digital infrastructure to glean data, which can lead to loss of your own or third-party sensitive or Personally Identifiable Information, as well potential legal action and regulatory fines.
Hackers gain access to your network and take control of your files, locking you out of your systems. To unlock, the hackers will demand ransom payments. These attacks severely disrupt business operations, and can even be made through your service providers.
Claims from third parties - such as your customers - alleging losses from attacks and data breaches that impacted them and their business.
When assessing your cyber liability risk, there are several factors that will influence our advice and recommendations, which include:
Insurers require adequate cyber security controls on your digital infrastructure. This can include encryption controls, two-factor authentication and details of data storage, among others.
Part of the value provided by a cyber policy is the 24/7/365 incident response services. This will help you manage your cyber response by engaging specialist cyber service providers, e.g. hacker negotiator.
Planning how your business will respond to a cyberattack, including dealing with the hackers, data recovery procedures, communication protocols, and business operations resumption.
