Cyber Insurance & Risk Management

In the material world you may have fire extinguishers and intruder alarms. You need to consider the electronic equivalent in the Cyber World.
Cyber security and the protection of information can be a challenge for companies of all sizes. It is important to note that hackers are not the only threat. Modern businesses rely heavily if not totally on their computers and a computer does not have to be online to be open to abuse. Having so said, any system on the internet for services such as online marketing, sales, administrative functions, account management, credit card processing, etc. is particularly vulnerable.
Any intrusion that disrupts any of your business activities can, in addition to loss of turnover, lead to brand and reputation damage, issues with regulation, shareholder/director dissatisfaction, and ultimately financial loss.

All Businesses are faced with an increasing number of cyber threats including some of the following:

Data Breach

Support in the event of a data breach (electronic or otherwise) including forensic investigations, legal advice, notifying customers or regulators, and offering support to affected customers.

Business Interruption/Ransomware

Compensation for loss of income if a hacker targets systems and prevents business from generating revenue.

Hacker Damage

Protection if a hacker tries to hold a business to ransom in response to avoiding an unauthorised access to, use of or denial of service attack against systems or documents.

Data Extortion

Protection if a hacker tries to hold a business to ransom in response to avoiding an unauthorised access to, use of or denial of service attack against systems or documents.

Notification Costs

Cover for costs to draft, send and administer notification communications to those whose data has been stolen, misplaced or compromised.

Intellectual Property

Protection for mistakenly infringing someone’s copyright, by using a picture online for example.

Defamation

Inadvertent libel or slander of a third-party in an email or other electronic communication.

Privacy Protection

Costs to defend and settle claims made for failure to keep customers’ personal data secure. Costs associated with regulatory investigations and settle civil penalties levied by regulators where allowed.

Gambryce – Cyber Risk Management

In an economy driven by digital transformation, staying secure online is more important than ever. With millions of cyber threats reported each month, staying safe online should be a top priority for both businesses and individuals.

This is why we recommend Gambryce to help your online security. They offer 4 simple, effective services that make a big difference:

1. Training
2. Reporting
3. Support
4. Email protection

Gambryce makes it easy for our clients to take the first step into cyber protection: making it reliable, effective and great value.

Don’t wait until it is too late. Start developing your cyber security awareness with Gambryce today.

See gambryce.io and learn how to become safer online.

BGi.uk would like to thank the West Midlands Constabulary who are taking a proactive approach to Cyber crime.