Cyber risk insurance is not something only large, well-known companies must consider. Any business could be the victim of a cyber-attack at any time. Whether it’s an attempt to access your data or bring your website down, a cyber-attack can significantly damage your business. Cyber risk insurance protects against both first party and third party cyber-attacks and breaches.
Most modern businesses rely upon technology and data. Most companies now store their own data and that of their customers on online servers, the cloud or elsewhere online. If any of the technology running your business is compromised, it can result in financial and reputational loss.
The Very Real Risks of a Cyber-Attack
A cyber-attack can truly devastate a business. Your company faces a range of real first party risks including:
- Loss and damage to your digital assets in the form of software and data
- Business interruption and additional expenses from service interruption and/or network failure
- Reputational damage
- Costs through cyber extortions such as a ransomware attack
There are also further cyber risks which effect third parties connected to your business including:
- Privacy breaches which effect third party, public member or employee confidentiality rights
- Privacy regulation defence costs and fines due to the above
- Customer care and support costs
- Customer care and reputational management costs
Cyber Risk Insurance with Just Quote Me
Just Quote Me recognises the need of each business to protect its assets, physical or digital. Not having cyber risk insurance in place immediately puts your business at higher risk than those who do. How would you financially manage if your business was the victim of a cyber-attack? If you don’t have an answer, then you need cyber risk insurance.
Our experience in working with businesses of all sizes means we can help you find a suitable cyber risk insurance policy with ease. We can provide quotes and ensure your business has a level of cover to protect both yourselves and your customers.