Cyber Risk Liability Insurance

Cyber-crime losses are becoming a greater threat than those risks covered by traditional commercial package insurance policies. Cyber Liability Insurance won’t prevent a cyber-attack but will provide invaluable support and financial protection if you are indeed a victim of one. If you use e-mail, have a website or store customer data electronically then you’re a potential target for cyber criminals.

  • It is not just large organisations at risk, small medium enterprises are being targeted even more so, and these cases are not as well publicised in the media.

At John Whippy Insurance Brokers we understand the importance of providing a reliable and local service, with professional advice, so that our clients can build long-term trust with us when taking care of their insurance needs and requirements. We prefer to spend time listening to our clients, and then select or build appropriate insurance coverage at a premium that is acceptable to them. Ultimately, we want all of our clients to understand the cover they are purchasing, and have confidence that they are paying the right price for the right cover!

Call us now on 01323 410 433 for a free market review.

Facts about Cyber Insurance:

  • Three quarters of SME’s had experienced some form of cybercrime in 2015 
(UK Govt: Information Security Breaches Survey 2015)
  • Small businesses are at a bigger risk than ever because they typically hold far more data than the average customer but often don’t have additional preventative measures to protect themselves 
(UK Govt: Cyber Security Myths Putting a Third of SME Revenue at Risk 2015).
  • Around 52% of businesses think they have cyber cover when in reality less than 10% of businesses do!
(HM Government & Marsh UK Cyber Security Report March 2015)

From computer hacking to the loss of data caused by human error, cyber risks take many forms. Cyber risk and data security breaches include: Computer Malware, Hacking, Cyber Theft, Extortion, Denial of Service attack, Human Error / Dishonesty, infringement of intellectual property rights, Libel, Slander and Defamation.

Whether you run a manufacturing plant reliant on computer automation, a data warehouse or a retail outlet with a simple client database, any company which uses electronic equipment and computers is at risk. Although the type of incident may vary from business to business, with vastly different intentions or consequences, anyone with a reliance on computers or a body of data has a dangerous vulnerability to cyber risks. 

Business Interruption as a result of cyber-crime is not covered by a conventional commercial package insurance policy!

This insurance product is reasonably priced starting from a few hundred pounds (trade dependent) and will provide cover for First Party, Third Party and 24/7 Breach Response Services.

What does it cover? – The time and money you have to spend dealing with a cyber attack, and the costs of putting your business back on its feet after a hack or data breach, not to mention the potential damage to your reputation.

Cover usually includes...

  • Costs of investigating a cyber-attacks,
  • Costs of repairing, restoring and replacing your website, networks and data,
  • Lost income when a cyber-attack prevents you from trading,
  • Extortion following ransomware attacks,
  • Legal fees involved in disclosing a breach to the ICO (Information Commissioners Office)
  • Costs of telling your customers,
  • Legal fees and compensation costs if you’re sued for losing individuals private data,
  • PR costs of managing your reputation and dealing with the fallout.

Insurers call the above ‘First Party’ costs. These are things your business will have to pay for without cyber cover. In addition to this, the insurers will also cover the ‘Third Party’ costs. These are costs and damages incurred by a third party following a cyber-attack on your business. Furthermore, the insurers offer a 24/7 Breach Response which provides access to a combined team offering data breach management, technical forensic investigation, legal advice, notification, web and credit monitoring, and public relations services.

We’d love to help you with your Cyber Liability Insurance, contact us or request a call back and get covered today!

Call us now on 01323 410 433 for a free market review.

Why John Whippy Insurance Brokers?

  • A Local & Personal service from a dedicated adviser who represents you, not the insurer
  • 100% Independent Insurance Broker offering impartial and independent advice
  • A reputable and established local Insurance Broker
  • A qualified and experienced team, with commitment to staff development
  • Professional insurance recommendations with sales on an ‘advised basis’
  • In-house claims management

How we add value...

We work with you to identify, measure, manage, reduce and eliminate risks to your business. This in turn will help limit the chances of suffering a loss and will often result in premium discounts.

We often highlight risk exposures that you were not even aware of.

We act as your agent and working for you in the event of a claim. We are there to remove the common anxieties and burdens that are associated with making a claim. Limiting disruption to your business and daily life is important to us.

You’ll receive a personal service

Regardless of size, we believe every client should be treated with the respect and provided with the service they deserve. Buying insurance can be a daunting and time consuming task, that’s why we work closely with you to understand your needs and make the whole experience of reviewing your insurance a pleasant and seamless one. Every client matters to us!

We are independent and impartial

John Whippy Insurance Brokers are completely independent and are not tied to any one or limited panel of insurers. As one of our 5 pledges to you, we will transact business with your best interests in mind. In other words we will carry out an independent market analysis on your behalf and offer the best value for cover we can from our extensive range of insurers.

How we transact business

Upon completion of our full market review we will present the options to you so you can make an informed decision. Our sales are on an advised basis which means we will make recommendations to you based on your requirements, be it price, cover, insurer background or coverage flexibility etc. We don’t over or under sell, we just offer you what you need.

No Call Centres! Deal with the same individual and build trust!

No numbered options, pre-recorded messages, repeating conversations or scripted questions. Our staff are professional and will seek to establish your requirements through open, honest and genuine conversations. We believe it’s important to listen to what is important to you! We can communicate with you by telephone, e-mail or we are happy to arrange face to face discussions and visit you.

Don’t pay over the odds!

Challenge us to beat your renewal premium and work closely with one of our experienced, knowledgeable and qualified team members. Contact us or request a call back to get professional advice and obtain valuable insurance cover at competitive premiums!

As a Sussex Insurance Broker we predominantly serve, but are not limited to, the following areas:

Eastbourne, Polegate, Lewes, Brighton, Hove, Peacehaven, Seaford, Shoreham, Worthing, Hailsham, Uckfield, Heathfield, Herstmonceux, Pevensey, Bexhill, Battle, and Hastings.

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