Many small businesses think that they are too small to be of interest to cyber-attackers, so it’s believed that physical security can be more relaxed, this could not be further from the truth. There are people in this big bad world that will go into small businesses rubbish bins to locate financial, personal, business and customer information. In addition to this, if a small business allows their staff access to their company internet without having a strong and effective security policy, an employee may unknowingly allow the penetration of hackers, trojans, viruses, and phishing programs.
Cyber Insurance addresses the first and third-party risks associated with e-business, the Internet, networks and informational assets. Cyber Insurance offers protection for exposures arising out of internet communications and other areas of exposure that traditional policies may fail to address. Areas to protect are privacy issues, the infringement of intellectual property, virus transmission, user-generated content, business interruption as a result of a virus or hacking event or any other serious trouble that may be passed from first to third parties via the Web.
What should your cyber insurance policies look to cover?
•Cyber liability, privacy liability and privacy breach notification costs
•Media liability, including cover for user generated content
•Defamation, including libel and slander
•Intellectual property rights infringement
•Invasion of privacy
•Property and business interruption arising from cyber perils
For help and advice about Cyber insurance please contact Ben Butler on 0118 9165481 , or complete one of our enquiry forms.