Cyber Insurance

Cyber-Image-for-Website-from-shutterstock_302442911S

With Cyber attacks and data breaches on the increase, protection against Cyber risks can no longer be ignored. Can your organisation afford to take the chance?

Across all industry sectors, there is a daily threat of cyber attack which could compromise the integrity of your IT systems and expose your organisation to cyber crime including data theft.

This puts an organisation at risk of reputational damage, interruption to its core services and activities, regulatory sanctions and potentially significant unplanned financial costs.

WHAT CAN YOU DO TO MINIMISE CYBER RISK?

    • Ensure your company’s operating system is fully up to date, including all patches
    • Ensure you are using commercially licensed firewalls and anti-virus software
    • Think before opening any unexpected emails and do not open attachments unless you are certain of the contents
    • Back up – If you recover your files from a backup, you cannot be held to ransom for those files
    • We recommend following the NCSC’s 10 steps to Cyber Security
    • Staff training to ensure your colleagues are well informed and understand what practical steps to take to lessen the risk
    • Ensure your organisation is covered by Cyber Insurance

Encompass Cyber Insurance Policy

An effective cyber insurance policy is an invaluable inclusion in your suite of insurances. The Encompass Cyber Insurance policy is underwritten by RSA and has been designed not only to protect you against your own losses (including legal and regulatory costs) but also losses you incur through Third Parties who may have suffered as a result of a cyber attack against your organisation.

HOW WOULD YOUR ORGANISATION RESPOND TO A CYBER ATTACK?
THIS IS HOW THE ENCOMPASS CYBER POLICY WOULD RESPOND:

cyberx

How it works

The policy is triggered either by:

  • Loss or suspected loss of non – public data. This could be as a result of misplaced /lost/stolen files or electronic devices used to store, process or transmit data e.g a laptop, or a malicious act that erases, alters or destroys data, whether caused from within or outside your organisation.
  • Breach of privacy legislation, e.g Data Protection Act 1998, or other similar privacy laws elsewhere in the world.
  • The negligent or inadvertent transmission of Malware (any code to erase, deny access to, corrupt, damage, disrupt any network or system or circumvent network security) to a third party.
  • Unauthorised Access – by this we mean access to and use of your computer system or network infrastructure by any person not authorised to do so, including your employees.

Please follow this link to read more about the cover provided by the Encompass Cyber Insurance Policy.

Cyber Interviews

Keegan & Pennykid has recorded several short interviews between Garry Dalton (Account Executive at Keegan & Pennykid) and Craig Watson, a cyber specialist at the insurer, RSA to provide further information on cyber threats and how your organisation can protect itself against these.

Interview 1: Introduction to Cyber Insurance
Interview 2: The General Data Protection Regulations (GDPR) and how a cyber insurance policy can assist your organisation in the event of a data breach.
Interview 3: What are the cyber risks to an organisation?
Interview 4: The Cyber claims process
Interview 5: Cyber theft and the need for a commercial crime insurance policy.

For more information, advice or a cyber insurance quote, please contact our commercial team on 0131 225 6005 or email: enquiries@keegan-pennykid.com

HELPDESK

Business Continuity Claims Contact Us News

Our Affiliations: