Cyber Risk Insurance

The debate happening in board rooms all around the UK is focused on loss of data or technology being unavailable due to accidental or malicious attacks on a company's intellectual property. It is without question that there is an ever Increasing reliance on technology to drive core business programs, this in turn has caused cyber risks to have exponentially increased in recent years. Cyber incidents can disrupt businesses through reputational damage, operational downtime, financial loss, and legal action.

Cyber Risk insurance cover should be undertaken by any business which:

• holds personal data (such as names, addresses, and banking information)

• electronically stores business-critical data

• is reliant on technology to conduct business

• manages financial transactions online

• is subject to a payment card industry (PCI) merchant services agreement