Business Insurance
Cyber Insurance
As businesses rely more heavily on digital infrastructure, the financial consequences of a cyber attack have grown substantially. Cyber insurance provides the financial protection and expert response resources you need when the worst happens.
Overview
What is cyber insurance?
Cyber insurance — also known as cyber liability insurance — is a specialist policy designed to help businesses manage the financial and operational impact of cyber threats, including hacking, data theft, ransomware, and system outages caused by malicious actors.
Unlike traditional commercial insurance policies, cyber cover is specifically designed to respond to the modern threat landscape. It combines financial indemnity with access to a specialist incident response team — forensic investigators, legal advisers, and communications experts — who can be deployed the moment a breach is detected.
Under UK GDPR and the Data Protection Act 2018, organisations have specific obligations when handling personal data and must act swiftly following any breach. Cyber insurance helps businesses meet those obligations without bearing the full cost of doing so alone.
Coverage
What's covered?
Data Breaches
Covers the costs of investigating and managing a data breach, including notification obligations to the ICO and affected individuals, credit monitoring, and public relations support.
Ransomware Attacks
Responds to the financial impact of ransomware incidents, including incident response costs, negotiation support, and — where recovery is not possible — ransom payments within agreed policy limits.
Business Interruption
Compensates for lost income and additional operating costs incurred when a cyber event prevents normal business operations, covering the period from initial attack through to system restoration.
Regulatory Fines
Provides cover for fines and penalties levied by the ICO or other regulatory bodies following a data protection breach, subject to the fines being legally insurable under UK law.
Why It Matters
Why every business needs it
Cyber threats are not limited to large corporations. Small and medium-sized businesses are frequently targeted precisely because their security infrastructure is often less robust. A single successful attack can result in significant direct costs — system restoration, data recovery, legal fees — alongside the reputational damage of notifying customers and regulators.
Standard commercial insurance policies typically exclude cyber events. Without dedicated cyber cover, the full financial burden of a breach falls on the business owner. For many organisations, particularly those without significant reserves, this can threaten the viability of the business.
Cyber insurance is increasingly viewed by lenders, investors, and larger clients as a mark of responsible business governance. Having a policy in place demonstrates that you take data security seriously and have a plan to respond if something goes wrong.
Our advisers work with specialist cyber insurers to find cover that reflects the specific risks of your industry, your data handling practices, and the scale of your operations.
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