Cyber risk is an exposure that no modern business can escape, large or small. IT systems and the internet are an integral part of running a business, but what if you had a systems failure due to being hacked? The Government say that over half of SMES (54%) suffered an attack or security breach during 2022.
The threat from cybercriminals is increasing all the time, both in terms of frequency and sophistication. SME and SMBs are possibly more vulnerable because cyber criminals see them as an easy target due to having smaller IT teams and less cyber security in place than large organisations. Hackers can use SMEs as an easy entry point to access bigger companies through their supply chain, exploiting an SMEs’ IT vulnerabilities to attack higher up the network.
Your business could suffer from the devastating financial impact of ransom demands, business interruption, and privacy attacks, not to mention the possible negative effect on your business image and credibility.
You may not realise it, but traditional insurance policies were not designed with cyber exposures in mind, that is why it’s important to get specialist cover. Cyber insurance can help protect your business against a range of cyber threats and exposures, including cyber-crime, data breaches and system interruption.
We can access cyber insurance for businesses of all sizes, with policies that are purpose-built for today’s risks. Insurance providers we access can offer affordable and reliable cover for:
- Hacks, data breaches, and lost income (business interruption)
- System repairs and restoring data and equipment
- 24/7 emergency response to manage the fall-out and get you up and running again
- Access to IT experts and cyber forensic team to identify how it happened and fix your systems
- Legal support to advise on GDPR and data breaches
- Cover for costs of advisory notices required
- Legal defence costs and damages you may be liable to pay out to third parties
- PR support to defend your reputation
Our team of experts will work with you to find the right cyber security solution to meet your business needs.