Choosing A Cyber Insurance Provider

Okay, you understand the importance of cyber insurance cover and you are ready to source a service provider.

The following will guide you with what to look out for when choosing a service provider:


Essential or ‘must have’:

  • Ransomware cover
  • Hacking cover
  • Malware cover

1st party damages:

  • Extortion payments (ransomware)
  • Business interruption costs
  • Recovering lost data
  • Restoring computer systems
  • Costs of notifying any 3rd party stakeholders of breach
  • Reputation management post breach (PR & Marketing)


3rd party damages:

  • GDPR fines against you

Desireable:

  • free antivirus software
  • free or subsidised training for key staff
  • legal advice
  • legal costs of defending yourself against such breaches
  • security audit
  • corporate identity theft
  • 24 hour incident response
  • up to £100,000 of cover

Make sure you are aware of GDPR and how it is linked to cyber insurance before making contact. You will be best placed to find the right policy for you if you understand the bigger picture of cyber insurance and GDPR compliance.

We recommend sourcing a local insurance service provider for the best results.

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