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Cyber Insurance

At GM Insurance Brokers, we have been spending some time learning about the exposures that all businesses face, simply because they own and use a computer …… these problems multiply as soon as you connect the computer to the internet ….

A few thoughts ……

  • What would happen if you were subject to a Malware Attack and as a business you were held to ransom – electronically?
  • Who would you turn to for help?
  • What would the potential financial losses be to your business in trying to resolve the issue?
  • Would you know when you have to advise the relevant regulatory authorities of a data breach – and are your ready to deal with this if and when it happens. Did you know that sweeping a data loss under the carpet – can multiply fines imposed on your business by the regulators when the data loss eventually becomes apparent?

Insurance cover for such events is available, offering financial and physical help and management of the situations you may find yourself in, unfortunately this is becoming a reality far quicker than some had ever imagined.

You may need cyber and data risks insurance if you:

  • hold sensitive customer data, such as names, addresses or banking information
  • are reliant on computer systems to conduct your business
  • have a website
  • are subject to a payment card industry (PCI) merchant services agreement.

As businesses become ever more reliant on technology, the risk of suffering a loss related to problems with computer systems or holding sensitive customer data continues to grow.

It could be that your business holds personal information on clients or customers, including names, addresses and banks details. Maybe your systems and data are held on physical servers or in the cloud. Or perhaps you are reliant on a website for the running of your business. 

Damage or unauthorised access to any of these could lead to reputational damage and significant legal or regulatory costs.

We have a number of insurance solutions for businesses – off the shelf covers are now available for MicroSME businesses and for larger or more complex businesses, cover can be tailored - giving you the peace of mind that professionals are at hand 24/7 to assist your business to trade through a data disaster.

We consider that every business should consider this cover – and if you would like to discuss the covers available please call us.


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Call us now on 01392 426799 or alternatively use the button below to contact us online.

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