As businesses become ever more reliant on technology, the risk of suffering a loss related to problems with computer systems or holding sensitive customer data continues to grow.
When it comes to cyber risk, insurance is more important than ever with attacks and security breaches increasing in frequency and sophistication. This is where PIB Insurance Brokers is here to help. We have access to a range of insurers who offer cyber insurance that can be tailored for those businesses who hold sensitive customer details, are reliant on computer systems, have a website or are subject to a payment card industry (PIC) merchant service agreement.
Unsure if you need Cyber Liability Insurance? Ask yourself the following questions.
> Hold sensitive customer details such as names, addresses, banking information?
> Use IT systems and websites to conduct business?
> Process payment card information as a matter of course?
If you answered yes to any of the above, your business could be at risk and you should speak to our team to find out more on how we can help protect you.
We compare prices from a range of leading insurance providers
Features and Benefits
To help your business recover from a Data Breach we can provide a range of covers including:
- Breach Costs
- We offer practical support in the event of a data breach (electronic or otherwise) including forensic investigations, legal advice, notifying customers or regulators, and offering support such as credit monitoring to affected customers. We could provide compensation for loss of income, including where caused by damage to your reputation, if a hacker targets your systems and prevents your business from earning revenue.
- Cyber Business Interruption
- We could cover the increased costs of working and loss of income due to not being able to use computer systems, programmes or data.
- Crisis Containment
- Covers costs of effective communications to minimise the impact on your company’s reputation following a breach of data as well as support from experts in PR in supporting your business communications to customers and third parties.
- Cyber Extortion
- Protects you against hackers holding your business to ransom with any final ransom paid.
- Hacker Damage
- Provides cover for the costs of repair, restoration or replacement if a hacker causes damage to your websites, programs or electronic data.
- Privacy Protection
- Cover to defend and settle claims made against you for falling to keep customers’ personal data secure.
- Multimedia Liability
- Protection if you mistakenly infringe someone’s copyright through online material or inadvertently libel a third party in an email or other electronic communication.
- Cyber Crime
- Covers direct financial loss following an external hack into your company’s computer network.