What Is Cyber Insurance?

Cyber insurance is designed to help businesses manage the financial and operational impact of cyber incidents. From data breaches and ransomware to denial-of-service attacks and phishing scams, cyber insurance could provide cover for a wide range of digital threats that can compromise business continuity.

As reliance on technology grows, the need for robust cyber protection becomes increasingly vital. A suitable policy could help cover costs linked to business interruption, legal claims, reputational damage, and recovery support following a cyber event.

Why Cyber Insurance Matters for Modern Businesses

No business is immune to cyber risk. Whether you handle sensitive client data, process card payments, or operate via cloud-based platforms, cyber liability insurance could offer essential protection. Attacks can occur regardless of business size or industry and often carry serious financial and legal implications.

Key reasons to consider cyber cover include:

• Rising frequency of ransomware and phishing attempts
• GDPR and data protection liability risks
• Reputational harm following a cyber incident
• Business downtime and lost revenue during recovery

Who Needs Cyber Insurance?

Any business that stores personal data, transacts online, or operates with digital infrastructure could benefit from cyber insurance. This includes:

• E-commerce retailers
• Professional service firms (legal, financial, accountancy)
• Healthcare providers
• Educational institutions
• SMEs relying on cloud or remote systems

Whether you’re a sole trader or a large organisation, being proactive about digital risk management could be a critical step toward long-term resilience.

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What Could Cyber Insurance Cover?

Cyber insurance policies arranged through our panel of insurers can be tailored to meet a wide variety of needs. Typical features may include:

First-party coverage

• Loss of income due to network interruption
• Data recovery and system repair costs
• Notification costs and public relations assistance
• Cyber extortion and ransomware payments (where legally permitted)

Third-party coverage

• Legal defence costs following data protection breaches
• Compensation claims made by customers or suppliers
• Regulatory investigation costs (e.g. ICO or FCA inquiries)

Cyber Threats Covered

Policies arranged through our broker service may help protect against a wide range of cyber incidents, such as:

• Ransomware attacks
• Phishing and spear phishing
• Social engineering fraud
• Malware and viruses
• Denial of service (DoS/DDoS) attacks
• Unauthorised data access or leakage