Business Insurance
Cyber Insurance
Helps protect your business against online vulnerabilities and risks.
Providing business owners with the peace of mind and protection against vulnerable cyber-attacks, such as computer hacking, ransomware or data theft.
Here’s what you need to know!
Who should consider Cyber Insurance?
Every business on the online space, with a website or electronic records is vulnerable to cybercrime or an accidental data breach – and the consequences of a cyber-incident can be very costly.
Depending on the situation, you may be up for the cost of ransoms or IT solutions to unlock and repair your systems. You could also be liable for the costs of reporting the breach, legal claims, and remediating any losses suffered by your clients.
A cyber attack or data breach may cost your business more than just money. It could be a risk for your intellectual property, be a threat for your customers’ personal information and cause major damage to the reputation of your company.
What can Cyber Insurance cover?
Cyber insurance can help cover financial losses to your business, your customers and other parties following a cyber security breach in the online space.
This might include costs associated with:
- Loss of revenue due to interrupted business
- Hiring negotiators and paying ransom
- Recovering or replacing your records or data
- Liability and loss of third party data
- Defence of legal claims
- Investigation by a government regulator
- Copyright infringement
- Misuse of intellectual property online
- Crisis management and monitoring
- Prevention of further attacks
What isn’t covered under Cyber Insurance?
There are exclusions. There is also often a deductible or excess and limits on cover. Please contact us at JGM Insurance Brokers for more information and we will be happy to help you.