In recent years, as businesses take more of their data online, cyber liability insurance has become a necessity when covering risks associated with loss. Security is a fundamental part of any business, especially when handling clients or customer data and it is important that your business covers against the potential loss of data due to human error, hacks, viruses and more.
There are many ways a business could come under threat and lose vital information. The most common threat is from viruses or hackers, who operate by targeting vulnerabilities in business’ network and security systems.
Cyber liability insurance protects you and your business against all third-party risks, including loss of a laptop to a full-scale breach of security. The cover also protects against the cost of dealing with a security breach, multimedia cover for intellectual property rights infringement, extortion, legal costs and more.
The level of cover you require can be decided by you, depending on the amount of risks there are to your business’ security. It is advisable to create a list of potential threats that your business may be at risk of, from DDoS (Distributed Denial of Service) to ransomware, and vulnerabilities in your network system. Find out the level of risk for your business with our online cyber risk calculator.
Cyber liability is another form of insurance, which is as important as protecting your business’ property and assets against risks which are out of your control. Once you have identified the risks you’re aware of, Sagar Insurances’ specialists can talk through the cover you need to protect your business data, your employees and customers’ information.
All of these areas can be protected with cyber liability insurance.
If your business is not yet protected against the risks of cyber crime, talk to our insurance specialists. We can help you identify the risks to your business and provide the right amount of cover to protect against potential breaches. For more information or to get a bespoke quote, contact us directly on 01282 858250 or get in touch online