Comprehensive Cyber Risk Insurance

Insurance that protects from all forms of cyber dangers.
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For businesses centred on IT infrastructure and allied areas, cyber risks are all too real. Funnily enough, many business owners, especially start-ups, believe a core group of employees can tackle any, and all cyber risks and that investing in cyber risk insurance is a waste of money. But, statistics show otherwise.

Close to 60% of small businesses and 80% of medium to large-sized companies in the UK lose revenue to cyber security breaches every year.

Let us face it. With increasing dependence on technology and automation, our vulnerability to cyber risks is only going to keep growing. The only way ahead is, therefore, to get proper cyber insurance coverage, to shield your business from any eventuality.

The most common cyber risks and resulting lapses attributed to the loss of business include the following.

  • Cyber extortion and ransomware attacks
  • Network error/downtime interrupting business operations
  • Accidental or Intentional damage to IT equipment/software
  • Employee Errors while rendering tech-oriented services
  • Data Theft-could be your own business data or that of customers/third parties
  • Public Relations, Legal and Notification Expenses as a result of any of the above

Comprehensive Cover Is A Must For Any Business

Your general business insurance might give you a certain level of cyber insurance cover as far as public liability is concerned, but most potential cyber risks remain uncovered. Only a robust cyber risk insurance plan from an experienced insurer can give your business the necessary holistic coverage.

As an authorized insurance seller licensed to sell Cyber Insurance in the UK, My Cybersurance employs a team of seasoned professionals to tailor a comprehensive cyber risk insurance policy, well-suited to any business model. We can assure you of the most affordable quote for a comprehensive cyber risk insurance plan. Call us for the best cyber insurance quote right away!

What does Cyber Insurance include?

Cyber insurance is not a simple cover but a collection of policies designed specifically to counter the most vulnerable points of your business. As such, opting for any plan from any insurer isn’t the right approach. First, you have to introspect your business model and figure out the level of cyber insurance coverage you require. To understand the indemnity, kind of coverage and extent of cyber risk, you should conduct an assessment of the following three factors.

  • Risk evaluation for business, customers and any other third party involved
  • Anticipation of potential cyber threats that could lead to business loss
  • Analyzing the effectiveness of security measures currently in place to combat cyber risks

Once you have an idea of the kind of cyber insurance coverage you require, the process of market analysis begins. It involves the usual drill – soliciting, negotiating over and comparing quotes. My Cybersurance saves you plenty of time and efforts by chalking out a customized cyber insurance policy attuned to your budget. We do the soliciting, negotiations on your behalf with several underwriters, so you get only the best personalized solutions to your business enterprise.

Protect your Business in the Virtual and Real World

While it makes perfect sense to get insurance against cyber attacks, to keep your business viable and thriving in the long run, there are several preventive measures recommended by the UK government that reduce the risks of cyber attacks on your business.

  • Participating in the Cyber Information Sharing Partnership Program
  • Implementing the Cyber Essentials Standard as enlisted by the government
  • Abiding by the Cyber Incident Response Scheme to report any attacks promptly
  • Cooperating with the Action Fraud Team, which handles cyber emergencies at national level

In addition to the above measures, installing necessary protective software, anti-malware programs, and data encryption standards, can keep you safe and fetch hefty discounts on your cyber insurance premium.

Get Comprehensive Cyber Insurance Today