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Cyber Crime is one of the most volatile risks facing today’s businesses

Computer systems in some shape or form are essential for revenue generation in every business. Whether your systems are customer facing or back office (or both) they are vital to operations.

Cyber Crime Insurance protects your company from technological threats that can disrupt business, causing reputational damage, operational downtime, financial loss, and legal action.

There is also an increasing burden of regulations with notification requirements after an incident, and more scrutiny and legal requirements as to how incidents are handled. Cyber insurance demonstrates to your clients, auditors, regulators, compliance teams, and other stakeholders that you have cover in place to address cyber risk.

Benefits of Cyber Crime Insurance

We work with leading specialists that offer flexible modular policies that allow you to select the coverage that matches your requirements. Some of the key features include…

Critical support from a legal response advisor and IT specialist

 Payment for Legal, IT and PR services, and data restoration

Defense costs and liability claims due to breach of confidentiality

What’s included in Cyber Crime Insurance

Cyber Crime Insurance provides extensive cover, and dependant on the policy selected can include:

  • Event management costs to control the incident (with no time limit)
  • A range of expert cyber services (from Legal, IT and PR services to Credit and ID Monitoring, Data Restoration and Breach Notification costs) until the incident is resolved
  • Coverage for your computer systems and industrial control systems running production systems or driving operational technology
  • A full range of cyber extortion services to identify, validate, and resolve an extortion event
  • Use of Cryptocurrency to pay an agreed ransom
  • Replacement of obsolete and unavailable system components with upgraded replacements
  • Network Interruption losses arising from the actual moment the cyber event occurs
  • Specialist costs of calculating the loss can also be covered
  • Network shutdown, should this be necessary

Cyber Crime Insurance FAQs

Is my business vulnerable to cybercrime?

Every business with an online presence or handling sensitive data is at risk. Cybercriminals target companies of all sizes, from large corporations to small businesses. If your business accepts online payments, stores customer information, or relies on digital tools, cyber crime insurance can be a valuable safeguard.

Will my cyber crime insurance protect me if an employee caused the attack?

Employee mistakes happen! The good news is, cyber crime insurance can still protect your business even if a malware attack or network breach stems from an employee’s actions.

How much does cyber crime insurance cost?

The cost of cyber crime insurance varies depending on factors like your industry, business size, the amount of data you store, and your chosen coverage level.

For an accurate estimate, please contact our team of expert advisors who are ready to help.

Safeguard your business with state of the art Cyber Insurance cover

We recommend AIG’s extensive state of the art Cyber Insurance cover, CyberEdge Cyber Liability, one of the leading cyber insurance policies available today.

Call for free advice208 903 9955
You can alsoRequest a Quote