Cover options for the costs that can follow a data breach, hacked account, ransomware event or other cyber incident. Talk to a specialist broker about your business.
Tell us a little about your business and we’ll be in touch to discuss your insurance requirements.
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A single phishing email, a compromised password, or a client account left logged in on the wrong device can be enough to trigger a costly cyber incident: client data exposed, systems locked by ransomware, or a business email compromise used to redirect a payment. Cyber insurance is designed to help businesses respond to and recover from these events. Sol Insurance Brokers can help you explore cover options that reflect how your business actually stores data, uses cloud platforms and interacts with clients online.
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Can help cover the costs of engaging IT forensics, legal and communications specialists to respond to a cyber incident, subject to policy terms.
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Cover options for costs associated with notifying affected individuals and regulators following a data breach, where required, subject to policy terms.
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Can help cover loss of income following a cyber event that disrupts your ability to trade, subject to policy terms and any waiting period.
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Cover options for certain losses arising from cyber crime, such as a fraudulent fund transfer, subject to policy terms and conditions.
Depending on your business and circumstances, additional covers may include, but are not limited to, Business Interruption, Professional Indemnity, Public & Products Liability and Management Liability, where relevant and subject to policy terms, conditions and exclusions.
A phishing email leading to a compromised email account or fraudulent payment redirection
Ransomware locking access to business systems or client files
A data breach exposing client or employee personal information
An employee accidentally sending sensitive data to the wrong recipient
A stolen or lost device containing unencrypted business data
A third-party supplier or software provider suffering a breach that affects your business
Important: The information provided on this page is general in nature and does not take into account your individual circumstances. Insurance cover, terms, conditions and exclusions vary between insurers and policies. Your insurance requirements will depend on your business activities, contracts, assets and individual circumstances. Please refer to the relevant policy wording and documentation for full details of cover. The risks listed above are general examples only, for illustrative purposes, and do not confirm that your individual policy will respond to any particular claim.
Cyber insurance can generally provide cover options for costs such as incident response, data breach notification, business interruption and certain cyber crime losses, subject to the specific policy wording, conditions and exclusions.
Using cloud platforms doesn’t remove the risk of a compromised account, phishing attack or data breach. Whether cyber insurance is relevant depends on the data you hold, how you use these platforms and your overall risk exposure.
No. Professional indemnity is generally about errors in the services you provide; cyber insurance is generally about costs following a data breach, hacked account or similar cyber event. Many businesses consider both together, subject to the specific policy wording.
This depends on the specific policy and insurer. It’s an important question to raise directly with a broker given how significantly cyber policies can vary on this point.
Cyber incidents affect businesses of all sizes, including sole traders and small teams that hold client data or use cloud accounting, CRM or payment platforms. Whether cover is worthwhile depends on your specific data and systems.
Insurers typically want to understand what data you hold, which platforms and software you use, and what security measures (such as multi-factor authentication) you have in place. A broker can guide you through this.
Tell us a bit about your business and one of our brokers will be in touch.
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