Cyber Insurance
for Enterprise

From risk prevention to data protection we provide tailored solutions to safeguard your valuable business and customer data.

Complete Risk Mitigation

Knowledge

At Cyber Cover, there’s nothing more important to us than delivering added value for our clients. An essential part of the cyber insurance sourcing process is that all our clients are as best prepared for a cyber incident as the business can be, following the work undertaken with our team to get the cyber insurance policy in place.

Preparation

We aim to ensure our clients grasp the triggers in their cyber policy, fostering a swift response with a dedicated team available round-the-clock. Essential to our commitment, this preparation is a key part of securing a robust cyber insurance policy. Financial recovery is crucial, but equally vital are the specialist services offered in case of an incident, providing extensive experience for tailored solutions

Presentation

Delving into the response phase: What initial steps are taken following a cyber incident? Who assumes the role of the main point of contact? How is the team structured to make crucial decisions? Ensuring clarity on individual responsibilities is paramount. Furthermore, has the business engaged in scenario planning and implemented training role-play strategies to enhance preparedness?

Why Do Enterprises Need Cyber Insurance?

With virtually all businesses dominated by digital reliance, the urgency of cybersecurity has reached unprecedented levels. As technology integrates deeply into every aspect of operations, the growing sophistication of cyber threats demands a strategic and proactive approach.

Understanding our clients and how you uniquely operate is at the core of the Cyber Cover enterprise team. We appreciate every business is unique with varying requirements, whether liaising with the CISO or senior management responsible for the cyber insurance for the entire group. Our team is dedicated to delivering the best possible coverage at the most competitive market rate.

We not only grasp the nuanced complexities of cyber insurance, traditional brokers may overlook, but we also stay ahead by anticipating emerging threats. We specialise in sourcing the most appropriate cyber insurers, matching the most suitable providers, including their additional services, tailored to our client’s needs.

Cyber risks are ever-evolving and changing, but so are your business processes, operating solutions and own technology. Having the right cyber insurance coverage in place is fundamental to any business with data now the lifeblood of operations. We understand the dynamic nature of these challenges and strive to ensure that our clients are equipped with agile and responsive coverage ensuring continuity and resilience in the face of cyber threats.

Cyber Threats to Enterprises

Often driven by their commitment to operational excellence and expansion, enterprises occasionally underestimate the inherent risks in the digital landscape. However, the diverse and tangible cyber threats they face can pose significant risks to their overall operations, reputation, and the trust of their stakeholders.

Phishing Attacks

These deceptive practices involve sending fraudulent emails or messages that mimic legitimate sources, aiming to steal sensitive information such as login credentials or financial details. Enterprises, given their extensive networks of clients, partners, and employees, become particularly attractive targets for such fraudulent activities.

Ransomware Attacks

Cybercriminals breach an enterprise's system, encrypting their data and demanding a ransom for its release. These attacks not only put sensitive data at risk but can also disrupt essential operations within the enterprise, affecting critical business functions and compromising overall productivity.

Data Breaches

These occur when unauthorised individuals gain access to the organisation’s data. The consequences can be significant, ranging from the loss of stakeholders' trust to potential legal repercussions, especially if the breach involves sensitive corporate data or proprietary information.

Each of these threats emphasises the importance of strong cyber protection. For enterprises, even with significant resources, there's a challenge of advancing technologically while securing their digital frontiers. Cyber insurance becomes crucial in facing these challenges, acting as a safety net and a resource to enhance preparedness and resilience.

Consequences of Cyber Crime

An enterprise faced persistent DDoS attacks, disrupting their online store. The CEO quickly contacted the insurance company, prompting a response within 20 minutes. Working with the company's IT team, an outdated firewall rule was identified as the vulnerability, promptly removing it to neutralise the threat. Business interruption coverage compensated for disruptions, and the insurance integrates active monitoring, incident response, and comprehensive insurance.

What Does Cyber Insurance Cover?

Breach Response

When your business experiences a data breach, whether from a cyber attack or internal error, cyber insurance has you covered. This includes emergency IT support, forensic investigation costs, and expert guidance on managing the breach. Experts help you identify what data was compromised and support you through the entire incident response process, reducing downtime and ensuring you meet all regulatory requirements.

Legal Costs

A cyber insurance policy covers all legal expenses associated with cyber incidents, from regulatory investigations to third-party claims. This includes legal representation costs, regulatory fines under GDPR, defence against customer claims, and expert guidance through legal proceedings. You'll get access to specialist cyber lawyers who understand both legal compliance and technical aspects of cyber incidents.

Business Interruption

When cyber incidents disrupt your operations, cyber liability coverage helps protect your bottom line. Whether it's a ransomware attack shutting down your systems or a DDoS attack taking your website offline, your business is covered for lost income and extra expenses during the disruption period. This includes costs of temporary solutions and getting your business operations back to normal quickly.

Hacking & Extortion

Cyber Cover provides comprehensive protection against malicious attacks, including ransomware demands and system breaches. You're covered for the costs of investigating the attack, removing malware, recovering encrypted data, and managing ransom negotiations if needed. This includes expert support to prevent future attacks and strengthen your security posture.

Cyber Crime

Protection against financial losses from sophisticated attacks by cyber criminals, including phishing scams, social engineering fraud, and electronic funds theft. A cyber insurance policy covers losses from compromised business emails, fraudulent transfers, and telephone hacking. This includes both immediate financial recovery and support to prevent future incidents.

Data Restoration

If your critical business data is lost, corrupted, or encrypted by cyber criminals or negligence, you're covered for the cost of professional data recovery services. This includes restoring from backups, repairing corrupted files, and reconstructing lost information. Specialists work quickly to minimise disruption and get your business data back online.

CYBER INSURANCE SPECIALISTS