A Cyber Liability Insurance broker
Providing cyber and data breach insurance to small businesses
Your IT and data are the lifeblood of your business. But hackers, viruses and online fraud are now a feature of everyday life. Nor is data loss always due to malicious IT problems at the hands of cyber criminal. You only need to read the media to realise that even big brands with deep pockets can fall victim to human error and oversights.
Keeping data private and secure is a continuous, round the clock battle. It has never been more closely scrutinised either, as a result of the EU GDPR. The ripple effect of any form of data breach can be substantial. This includes hefty financial penalties, but also loss of reputation and damaging disruption to day to day business.
Managing these risks is commercially vital. When it’s done properly, it could even mean the difference between recovering quickly or going out of business – which is why we offer cyber insurance along with our large portfolio of insurance products and services.
Our cyber policies give your business a single insurance policy to protect you against many modern-day IT perils. It includes cover – and peace of mind – to help you even if the worst does happen.
What your Cyber Insurance policy includes
In it’s simplest terms our cyber insurance protects you from the financial implications that you may incur as a result of a cyber attack or incident. With one comprehensive policy providing protection for your computer systems and data.
With cover for:
Data breaches: offering support for hacked breaches and accidental loss of data.
Cyber business interruption: with compensation available for loss of income following a cyber attack.
Cyber extortion: with cover to protect you should a hacker attempt to hold your business to ransom.
Hacker damage: with costs reimbursed in the event of a hacker attack.
Crisis containment: With expert support from a leading public relations firm to help you communicate with customers and various stakeholders in the aftermath of an incident.
Your cyber insurance can also help when defending yourself (or meeting settlements) if you face legal action from a data breach. It could also cover your legal bills and fines if you inadvertently infringe someone else’s digital copyright or you libel a third party online for example.
What if a hacker damages your business IT systems, websites or data files? Your cyber insurance would reimburse the costs of repairing, replacing or restoring such items.
Who might need cyber insurance?
Every company that holds data and relies on its IT to do business should consider cyber insurance.
However, it is particularly vital if you hold sensitive information on customers, such as financial or health details.
This includes professional or financial service firms, but also manufacturers, retailers and businesses in the tourism and hospitality sectors.
Don’t assume if you are an SME that you are immune from cyber crime either. IT issues such as malware (malicious software) and ransomware (which demands financial payments) are all too common. They can impact companies of all types and sizes.
Having a trusted partner available to help you to deal with such issues can be crucial. To fully understand “what is cyber insurance” and what does it cover, contact us. We can discuss your organisation’s risks and the help you will need to recover quickly from a data breach.
Small business can be easy prey for cyber criminals
Even the most secure companies suffer data breaches which is why having dedicated cyber insurance cover is oh so important for a range of small businesses, helping to protect your businesses income, customers and reputation.
Only pay for the exact cover you need
Our team of cyber insurance specialists will always look to tailor a policy that meets your unique and exact needs. There is no off the shelf solution when it comes to business insurance, so when it comes to designing a policy for you we’ll look at all aspects of your business from turnover, or number of employees to the number of internet connected devices you use within your business.
Why choose us for your Cyber Insurance?
We proudly make buying insurance different and our cover comes with a range of benefits.
Up to £2 million of cover
While we can't stop hackers or data breaches, we can give our customers comprehensive cyber cover that they can rely on. With up to £2m worth of cover available on demand.
Fast specific cover
To help save you both time and money. We compare prices from a range of different insurers so you don’t have to.
Specialists who understand your profession
Connecting you with agents who specialise in your field. They understand many of the challenges you face, & can tailor a policy to your needs.
Easy claims process
Any and all businesses no matter there size can become victims to cyber crime. So it helps to know that if something does go wrong that you've got a dedicated team of specialists on hand to make the claims process as quick and stress free as possible.
Octopus customer rewards
We pride ourselves on the value we offer our customers, and with Octopus Customer rewards we give our customers a few additional benefits to their insurance such as discounts and offers to save them money.
No mid term fees, ever
Make adjustments to your cyber cover as and when you need with our flexible cover. We don’t charge any mid-term fees at all during the life of your policy.
Cyber insurance FAQ’s
Get the answers you're looking for
How much cyber cover do I need?
The level of cover can vary depending on your businesses income, number of devices you use to run your business, number of employees and other factors. Speak to one of our cyber experts to discuss levels of cover that are right for your business.
How much does cyber insurance cost?
Cyber insurance costs can vary widely, depending on your businesses turnover, staff levels and other various factors. Read cyber insurance costs for more info.
We're a small business, why would we ever be targeted?
Small businesses can be easy prey for cyber criminals due to having fewer defense systems, and procedures in place. We discuss this myth and others in our blog 6 cyber myths for small businesses debunked.
How Cyber Insurance works
Examples of Cyber insurance in action
A disastrous data breach
A small business named His and Hers is operated by two sisters and located in Swansea. They sell a variety of men’s and women’s clothes out of their medium-sized brick and mortar store, located in a retail park. They also fulfill online orders through their own website which is hosted via a well known eCommerce platform… continue reading
Pay up, or else
A small firm of accountants operates out of an office located on a high street in Kent. The small business has five employees, and serve a variety of local businesses and residents with accounting, tax, and financial advisory needs… continue reading