Cyber Insurance

Cyber Security Insurance

Cyber security insurance, also known as cyber risk insurance, is a type of insurance that protects businesses from financial losses caused by cyber attacks. These attacks can include data breaches, malware infections, ransomware attacks, and denial-of-service attacks.

Cyber security insurance is important for businesses of all sizes, but it is especially important for small and medium-sized businesses, which may not have the resources to recover from a cyber attack.

What Does Cyber Security Insurance Cover?

Cyber security insurance typically covers the following:

Data breach costs: This includes the costs of notifying customers and employees of a data breach, as well as the costs of investigating and remediating the breach.
Ransomware payments: If your business is infected with ransomware, cyber liability insurance can help you pay the ransom demand to get your data back.
Business interruption losses: If a cyber attack disrupts your business operations, cyber security insurance can help you cover the lost profits and expenses incurred during the disruption.
Regulatory fines and penalties: If your business is fined by a regulatory agency for a data breach or other cyber security violation, cyber security insurance can help you pay the fines and penalties.

When Should I Get Cyber Insurance?

Cyber crime is on the rise, in the last 12 months more than three out of five businesses have reported a cyber attack and it can lead to loss of profits, a ruined reputation and even fines. Security should be considered for anyone who uses computers or the internet at work, keeps data about clients, suppliers or staff, conducts online transactions, or just uses social media.

How Much Cyber Insurance Cover Will I Need?

The cost of cyber security insurance will vary depending on the size of your business, the industry you are in, and the level of coverage you need. However, cyber security insurance is typically very affordable, especially when compared to the cost of recovering from a cyber attack.

Where Cyber Cover Can Help?

Our Cyber Insurance can help you with the following:

Recovering From Attacks
Loss Of Data
Your Security Commitments

1. Recovering From Attacks

Insuring against cyber crime and data risks means that you are safe from new and emerging threats, but we will also assist with the practicalities of having specialists to restore networks, rebuild information, and deal with any requests that are made where data is stolen. In The Insurance Times Cyber Product Survey 2018, our cyber insurance policy for SMEs is the only one to score 100%.

2. Loss Of Data

Losing data or accidentally sharing it can cause real headaches for you and your clients. There are lots of stories about people leaving memory sticks lying around, but there are much simpler ways to lose data that do just as much damage. Cyber insurance helps you cover your costs and get back to business.

3. Your Security Commitments

These days we have detailed commitments to keeping client data safe, making sure online transactions are secure and complying with the changing legislation around digital transactions and communications. Things like GDPR legislation are important but complicated and it’s easy to make mistakes or miss things.

Choose Legal Ex Plus for Cyber Insurance Solution

In today's digital landscape, cyber threats are on the rise, and your business's data and reputation are at stake. That's where Legal Ex Plus comes in. Our comprehensive Cyber Insurance solutions are tailored to protect your business from the evolving world of cyber risks. Contact us today to secure your business's future in the digital age!

Cyber security insurance is an important investment for businesses of all sizes. It can help you protect your business from the financial losses caused by cyber-attacks. If you do not have cyber security insurance, contact us to get a quote today.