With cyber crime rampant among UK businesses, here are some of the UK based cyber-insurance providers who can help protect your business online.
A continually popular choice, and offering one of the most comprehensive cyber insurance packages around is Hiscox. Which offers a range of cover levels depending on your businesses individual requirements. That means they can cover everything from ransomware to cyber business interruption. They also offer award winning support and training via their Cyber Academy program. You’ll even get 0% interest on direct debit payments, immediate coverage, and no admin fees for policy amendment with a cyber policy from Hiscox.
At Aviva you’ll find what they claim to be the most comprehensive single cover package available. With the help of CYENCE, a Californian specialist consultancy, they have developed a sophisticated understanding of cybercrime and risk management. They also offer a rapid response team, for 24/7 support to policyholders.
There is a modular approach to the cyber-cover AIG offers. That means businesses can choose cover prioritising the specific risks they face more frequently, for instance, system failure, electronic data incident, and cyber extortion, etc. They also offer 24/7 priority support for policyholders.
The policies at Pen Underwriting have been developed with simplicity and efficiency in mind. They also offer a broad base of coverage as a part of their standard policies. This includes breach costs, cyber extortion payouts, multimedia liability, and cyberterrorism. Optional coverage includes e-Theft.
The policies at Bluefin Professions have been developed specifically to protect professional firms in the event of cybercrime. They also cover your internal IT systems in the event of damage and work to minimise the damage to your reputation which may result from a breach in cyber-security.
The policies at CFC Underwriting are conveniently split up into both private enterprise/SME and large corporate coverage. That makes it easier for businesses to get access to insurance packages that have been developed with them in mind and which are thereby tailored to the specific risks they’re more likely to face.
At NIG you’ll find a range of cyber covers for a multitude of different trade types. They provide 24/7 support from a team of cyber specialists to provide rapid response in the case of a data breach or system intrusion. Their premiums cover a range of common cyber-claim causes such as hardware failure, cyber crime, and data corruption. They offer standard maximum cyber crime limits of £100,000.
With QBE Europe you have a range of policy options available to suit the specific needs and risks of your business. There is a dedicated crisis support team which is available 24 hours a day to policy holders to help with any manner of a cyber-claim. QBE also take a pro-active approach to helping businesses to further understand and manage the risks they face, offering experienced guidance and industry knowledge.
When considering cyber insurance you’ll always benefit from speaking to a broker. Why is that? Simple – a broker doesn’t just work with one insurance carrier. The Insurance Octopus have forged relationships with some of the UK’s premier cyber-insurance providers.