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Cyber Security Insurance

Cyber insurance covers you for loss or damage from IT architecture. 

01

Protect your data

We can help insure you against the potential risks from a cyber attack or data incident.

02

Guaranteed cover

We can protect you against financial and reputational costs of a first or third-party cyber and data risks.

03

Security cover

Its important to insure yourself against cyber risks, especially if your business operates online or you handle large amounts of information.

Why do I need Cyber Security insurance?

The backbone of modern business is IT (Information Technology), which derives most of the key back-office and middle-office functions. Most companies use websites as their showcase of the products.
All technology is exposed to very degrees of cyber attacks. Whilst there are financial losses, the biggest impact is usually reputational damage, especially if your business:

  • Holds sensitive customer details such as names, addresses and bank information.
  • Relies heavily on IT systems and websites to conduct their business.

Traditional insurance policies may cover elements of cyber cover, but they are not sufficient to cover all technology usage in a modern business. However, with our specialist cyber insurance policies, we provide bespoke cover tailored to suit your exact needs.

icon The Benefits of our expertise

Enterprises of all shapes and sizes could stand to benefit from our cyber claims specialists. If your business operates primarily online, relies on IT systems or you handle large amounts of data, then our cyber insurance services can help to cover you for potential cyber-attacks or risks, such as:

  • Viruses and malicious links that could affect employees email system – also known as phishing.
  • A hacker could manipulate website databases to commit fraud or demand steep sums of money.
  • Digital threats and data breaches can also arise from within your business – an employee may accidentally or intentionally leak sensitive client information

For more information, talk to our team of Experts

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What does our Cyber Security Insurance cover?

Our cyber insurance covers businesses for losses relating to damage to, or loss of information from, IT systems and networks. Cover includes significant assistance with and management of the incident itself, which is essential when faced with reputational damage or regulatory enforcement. Generally, cyber risks fall into first party or third party risks, where we cover both types:

First-party insurance

  •  Loss or damage to digital assets such as data or software programmes
  •  Business interruption from network downtime
  •  Cyber exhortation where third parties threaten to damage or release data if money is not paid to them
  •  Customer notification expenses when there is a legal or regulatory requirement to notify them of a security or privacy breach
  •  Reputational damage arising from a breach of data that results in loss of intellectual property or customers
  • Theft of money or digital assets through theft of equipment or electronic theft

Third-party insurance

  • Security and privacy breaches, and the investigation, defence costs and civil damages associated with them.
  • Multi-media liability, to cover investigation, defence costs and civil damages arising from defamation, breach of privacy or negligence in publication in electronic or print media.
  • Loss of third-party data, including payment of compensation to customers for denial of access, and failure of software or systems.

What types of Cyber Claims do we specialise in?

As well as managing regular Cyber claims and related investigations regarding data leaks, we also trace and recover financial theft stolen through Cyber related fraud. We also advise insurers on Tech and Cyber coverage issues and policy wordings.

At Exchequer Risk Management, we also specialise and advise on cyber claims which include, but are not limited to:

  • Loss or damage to digital assets
  • Cyber extortion and crime
  • Theft of money
  • Loss of third-party data
  • Business interruption
  • Reputational damage
  • Security and privacy breaches

From the moment an emergency call is made, we will co-ordinate the necessary response in conjunction with our third-party experts.

Our Services

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