In today's digital landscape, you may think cyber attacks only affect large IT and finance corporations. However, the reality is that any business, regardless of size or sector, can be targeted. As organisations increasingly rely on digital systems, the risks of cyber threats continue to grow, affecting everything from sensitive data to day-to-day operations.
Every business manages some level of sensitive information, whether it's personal data, payment details, or internal documents. This makes every business a potential target for cyber threats, which can vary widely in nature and impact. These threats can come in many forms, from cybercriminals seeking to steal data for competitive advantage to simple errors like the loss of a company laptop or an employee unknowingly clicking on a phishing link.
Even a single cyber incident can have serious financial consequences for your business. Theft of sensitive information, unauthorised access to banking data, and even temporary downtime can disrupt operations. In the case of a data breach, regulatory penalties, especially under GDPR, can lead to significant fines. Further, any data loss or breach could damage relationships with clients and suppliers, leading to potential loss of future business and a tarnished reputation.
Your assets—your money, reputation, customer trust, data, and IT infrastructure—are all at stake. If your business falls victim to a ransomware attack, malicious software can gain unauthorised access to your systems, holding your data or accounts hostage.
If there were a burglary at your business premises, you’d likely know the steps to take to manage the situation. Yet, dealing with a cyber incident can be far more complex. Fast, informed responses are essential, and having expert guidance can make all the difference.
Cyber insurance, sometimes referred to as cyber liability insurance or cybersecurity insurance, is designed to protect businesses from the financial repercussions associated with various cyber threats, including cybercrime, data breaches, and system outages. This specialised insurance can provide essential support in the event of a cyber attack, helping cover costs related to incident response, business interruption, and data recovery.
Find a range of cyber insurance policies tailored to the needs of small and medium-sized businesses. There are options with robust incident response support, business interruption coverage, protection against cybercrime, and data breach support.
Increasingly, businesses are being required to hold cyber insurance by contractual agreements with clients or partners. This shift reflects the growing recognition of cyber risk in the business world, especially as companies seek to protect sensitive data and maintain service continuity.
Cyber insurance provides peace of mind, ensuring that you have financial support in place should a cyber incident occur.
As a business owner, you can understand the importance of having the right insurance package to mitigate risks. We can help you get the cover you want with less hassle.
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Prices from £4.74 a month*
In partnership with Simply Business
*The price is for up to £2 million of public liability insurance – 10% of customers paid £4.74 or less annually between 1st Jan - 31st May 2024. Equivalent to £56.82 a year (and excludes the extra costs for paying monthly). If you complete a quote, more types of cover will be available and these all have additional costs.
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