Cyber liablity insurance – What are the risks within your organisation?

When considering cyber liability risks one area that should not be neglected are potential losses arising from employees or ex-employees.

This point was highlighted recently following the jailing of a Sainsbury’s IT network employee for the theft of 17,000,000 Nectar points.  The once trusted employee had set up 18 different accounts for himself and had transferred the points in over a number of years.

In another case a disgruntled ex-employee, hacked into his former employers data based and wiped it clean. The loss amounted to £70,000 which was mostly the time spent to reinstate lost information. Fortunately, this was covered by a cyber liability insurance policy.

For more details on cyber liability insurance, contact Tony Gibbs on 0118 9165480 or complete an enquiry forms.

Author: Tony Gibbs | January 21st, 2011

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Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767