Cyber
Insurance

What is Cyber Insurance?

Cyber Insurance provides essential protection against cyber threats, covering risks such as data breaches, ransomware attacks, hacking, and business interruption. Whether you operate a small business or a large enterprise, this insurance helps mitigate financial and reputational damage caused by cyber incidents.

For business owners, IT professionals, e-commerce stores, and any company handling sensitive data, Cyber Insurance is crucial for maintaining security, compliance, and business continuity.

Who Needs Cyber Insurance?

Any business that uses digital systems, stores customer data, or operates online should have Cyber Insurance in place. This includes:

• Small & Medium Businesses – Protection against cyberattacks, phishing, and data breaches.
• E-commerce & Online Retailers – Cover for payment fraud, website hacking, and customer data leaks.
• Professional Services & Consultancies – Protection for firms handling sensitive client information.
• Healthcare & Financial Services – Cover for compliance breaches, ransomware, and data protection risks.
• Technology & IT Companies – Protection against system failures, cyber extortion, and network security threats.

Why is Cyber Insurance Important?

Cyber threats are increasing, with businesses of all sizes at risk of attacks that can cause financial loss, legal issues, and reputational damage. Without proper cover, recovering from a cyber incident can be costly and time-consuming.

Common risks that Cyber Insurance protects against include:

• Data Breaches – Covers the cost of investigating and responding to customer or employee data leaks.
• Ransomware & Cyber Extortion – Protection against malicious attacks demanding payments to restore access.
• Business Interruption – Compensation for lost income due to a cyberattack disrupting operations.
• Social Engineering Fraud – Covers financial losses from phishing scams and fraudulent transactions.
• Regulatory & Legal Costs – Protection for fines, legal fees, and compliance breaches related to cyber incidents.

What’s Covered in Cyber Insurance?

Cyber Insurance policies typically include:

• Incident Response & Investigation – Covers forensic analysis and crisis management following a cyberattack.
• Data Restoration & Recovery – Financial support for restoring lost or corrupted data.
• Third-Party Liability – Covers legal claims from affected customers or partners.
• Cyber Extortion & Ransom Payments – Protection against ransomware demands and cyber extortion.
• Reputation Management – PR and crisis communication support to manage reputational damage.

What’s Not Covered?

• Known vulnerabilities that were not addressed.
• Negligence or failure to follow security best practices.
• Pre-existing cyber incidents before policy inception.
• Losses due to employee misconduct (unless covered separately).

Additional Cover You May Need

Depending on your business operations, you may need additional cover such as:

• Business Interruption Insurance – Covers revenue loss if your business is disrupted by a cyberattack.
• Professional Indemnity Insurance – Protection against claims of negligence related to data handling.
• Directors’ & Officers’ Liability – Covers legal costs for company directors in the event of cyber-related lawsuits.
• Public Liability Insurance – Protection against claims from third parties for injury or property damage.

At Insurably, we work with leading insurers to find the best Cyber Insurance policy tailored to your business needs.

Start your quote online today, and ensure your business is protected from cyber threats and digital risks.