Cyber Liability Insurance

Protect your business against new threats in a changing world


What is Cyber Liability Insurance?

Cyber Liability Insurance protects your business against threats such as data breaches, business or network interruption and malicious cyber attacks on work computer systems. 

Technology is at the heart of successfully running a business and Cyber Liability Insurance addresses the risks that come with this. An expert will look closely at your business to understand the types of threats it could be exposed to and work out the level of cover you need.

Why does my business need it?

Your business needs Cyber Liability cover if you rely on computer systems, store customer data or have a website, because this puts you at risk of a data breach or loss of vital business services. The risks are even greater if you handle customers’ bank details and process payments. 

Examples of these risks include customer data being stolen or a virus infecting other people’s computer systems.

Regulations, such as the Data Protection Act, are in place to protect consumers. Cyber Liability Insurance protects you. The cost to your business, both financially and reputationally, could be devastating if the law is broken. Without proper cover you could end up paying for IT experts to control the damage, investigation fees, third party liabilities and suffer major loss of earnings from your business shutting down during a cyber attack.

what does it cover?

Cyber Liability policies typically cover the financial and reputational costs resulting from a cyber attack for the first party (your business) and third party (customers, clients or anyone else affected by the attack).

first-party cover may include:

  • Data theft
  • Business interruption (the loss of income if a cyberattack stops you from trading) 
  • The cost of investigating a cyber attack
  • Cyber extortion (where third parties threaten to damage or release data if money is not paid to them)
  • The cost of informing your customers

Third-party cover may include: 

  • Legal costs for defending against GDPR breach claims
  • Compensation payments arising from claims made against your business
  • Loss of third-party data, including compensation payments to customers for denial of access and software or systems failure

Find a cyber liability insurance broker

Find a Broker

key cover benefits

  • Protects beyond your standard business Insurance cover
  • Policy tailored to your business’s IT needs
  • Backed by connected expertise and thinking
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