Protect your business with one of the most advanced cyber insurance covers available online – designed for modern business and with emerging risks in mind.
Cyber insurance quote
Cyber liability and data insurance has been designed to support and protect your business if it experiences a data breach or a cyber-attack that affects its computer systems. Our innovative cover includes a number of important extensions as standard to give you an advanced level of protection.
- GDPR penalties
- Access to specialist PR and IT support
- Compensation for loss of income
- Data restoration
Set up your cyber insurance in less than 10 minutes as a flexible monthly subscription. Change or cancel it at any time as your business evolves.
Benefits of our cyber insurance
Cyber and privacy liability
Media content liability
Our cyber insurance includes cover for media content and will pay for damages and legal defence costs. If your company is creating and releasing media content to the public (on your website, blogs, social media and online advertising), cyber insurance will provide the necessary protection.
The General Data Protection Regulation (GDPR) is in force to ensure more stringent guidelines and penalties around the safeguarding of customer data. Fines for non-compliance are up to €20m or 4% of annual turnover. Our advanced cyber liability policy covers notification costs, crisis response providers, legal fees, as well as civil penalties if you fail to comply with GDPR standards (where insurable by law).
Cyber insurance guide
Find out more about cyber insurance, the risks it covers and what to look out for in a policy.
What is cyber insurance?
Cyber insurance provides companies with specialist protection from a range of internet-based, data, IT and employee-related risks that come with running a business.
Who is cyber insurance for?
All companies reliant on computer systems or who handle sensitive customer or employee data such as names, addresses or banking information. For fast-moving, tech-savvy companies with files in the cloud or who work with ‘big data’, the risks are even higher as these companies are likely targets of cyber-attacks. That being said, technology is everywhere in business today – even a business with a small IT footprint can be a target and would be wise to consider cyber insurance.
What is covered under a cyber liability policy?
Steps you can take to protect yourself
For starters, keep track of the data you hold and delete any records that you don’t need. It’s also smart to anonymise personal information and take a look at your processes, as a large amount of data tends to live in spreadsheets and ad-hoc files on your systems. There might be a better, safer way to store your information that doesn’t leave you open to unintended data breaches. A key thing to remember when shoring up your cyber risk is employee training, having continuous employee training and testing is important in implementing a strong cyber security program.
What to watch out for when choosing cyber security insurance?
If your business needs professional indemnity insurance, a good tip would be to try and make sure it’s the same insurer as the cyber liability insurer. The two covers are linked and have some crossover covers. When choosing your provider, make sure they have a good technical understanding of how they work together. At Digital Risks, we keep our PI and cyber liability covers together to make sure they both work for you and avoid any confusion.
We've made insuring your business so simple, you'll be covered in less than 10 minutes
Other covers to consider
Browse our range of covers and build the most accurate protection for your business.
Boost your cover from £10.08 per month
Commercial legal protection
Covers compensation awards, professional fees and legal costs associated with a range of legal disputes.
Cyber insurance FAQs
It might be big brands that hit the headlines, but small and medium sized businesses are just as likely to fall victim to cyber attacks and data breaches, if not more so. SMEs are often seen as a soft target, as they have fewer resources to put towards the technology and skills they need to stay safe. Plus they’re busy, which means security practices can often get overlooked.
The level of cover you need to take out will depend on the amount and type of data you hold, the scope of your IT framework and the number of devices being used to access your systems.
To calculate your cover, we’ll therefore need to know the number of people (clients or customers) you have any identifiable data on, including names, contact details, and financial or medical records. This will help us to understand the risk that a cyber attack or data breach would pose to your business and your customers.
Our calculations also take into account the industry you operate in, the likelihood of an incident, and the procedures and security in place to prevent it.
Our online cyber liability policy has a standard excess of from £500 per claim. All other expenses and costs will be covered on our side. Please be aware, however, that for offline advised clients who have tailormade policies, the excesses do vary depending on the risk.
You might not always be able tell that your systems have been hacked, however there are a few telltale signs. It’s important to stay vigilant and if you notice any of the signs below, the first thing for you to do is let us know.
If your business has become a victim of ransomware, all or some of your files will be locked and you will receive a message requiring you to perform certain actions, or pay a fee to unlock your systems. In this situation, we would advise not to give in to the hackers’ demands and get in touch with us immediately.
Another less obvious example is when your mouse starts moving outside your personal control, as if a third party is controlling it from elsewhere. It could well be a bug, but it’s better to disconnect the device from your network and run a virus scan, to be on the safe side.
Some files on your computer may become encrypted for no apparent reason and restrict you from accessing them. This is also a sign of a cyber breach and may result in ransom demands when you try to open the affected data.
- 20 Jan 20203 minute read
We had a chat with Oliver Mitchell, Moneycado founder, about why he chose Digital Risks and what makes us different from other insurance providers.
- 13 Jan 20204 minute read
As we look forward to a string of updates in 2020 - including new features and products - we wanted to celebrate our journey and achievements so far.
Authorised by the FCA
The FCA supervises UK financial services firms to protect consumers. We are directly authorised and regulated by the FCA and our Firm Reference Number is 656459. These details can be confirmed on the Financial Services Register at www.fca.org.uk or by calling the FCA on 0845 606 1234.