Keeping data secure matters – your own information and anything that your clients trust you with. If a hacker targets your business, there’s an IT failure or you (or someone in your business) accidentally shares something they’re not supposed to, it takes time and money to fix. Putting a cyber and data risks insurance policy in place means you’re protected.

What does cyber insurance do?

It’s also known as cyber liability insurance, or data protection insurance. It’s there to make sure your business is protected against cyber crime – things like fraud, data theft and social engineering, where criminals attempt to fool you into parting with money, information or both. It also covers data breaches where sensitive information is accidentally shared

When should I get cyber insurance?

Cyber crime is on the rise, more than three out of five firms reported a cyber attack in the last 12 months and it can lead to lost revenue, a damaged reputation and even fines. Anyone who uses computers or the internet at work, holds data about customers, suppliers or employees, carries out online transactions, or just uses social media, should think about security.

Recovering from attacks

Insuring against cyber crime and data risks means you’re protected against new and existing threats, but also helps with the practicalities of getting experts to restore systems, recreate data and deal with any demands being made where data is stolen. Weston Financial partners with a specialist Cyber Insurance provider whose policy for SMEs is the only one to score 100% in The Insurance Times Cyber Product Report 2018.

Loss of data

Losing data or accidentally sharing it can cause real headaches for you and your clients. There are lots of stories about people leaving memory sticks lying around, but there are much simpler ways to lose data that do just as much damage. Cyber insurance helps you cover your costs and get back to business.

What’s included in your cyber cover

Your cyber insurance cover;

  • Protects you for any GDPR non-compliance claims.
  • Gets you back to business as usual, as quickly as possible where reputational damage is caused.
  • Compensates for loss of income as a result of a data breach.
  • Manages data breaches with forensic investigations, legal advice and notifies customers or regulators.
  • Covers you for the costs of repair or replacement if you’re hit by a cyber attack that damages your equipment.

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Case studies

Take a look at our recent case studies and see how we've successfully helped our clients with their requirements.

Mr D N – Milton Keynes

  • Business insurance
  • 25/03/2020
Mr N, a painter and decorator with his own business, had existing protection set up on a personal basis to protect his mortgage should either he or his wife pass away. Mr N wanted to see how cover could...
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