Cyber Security
About Cyber Security
Cyber security is a highly profitable, international business. Believe it or not, many sources of cyber secuirty are highly organised companies with offices, staff, HR departments, coffee machines – almost indistinguishable from a regular law-abiding business in the city. Some will hold your data to ransom, others will look to sneak inside your systems to sit and wait for something like a large financial transaction to take place over email. They will jump in the middle of that conversation and change the bank details on the invoice that is sent so you or your customer pay the money in to the criminals bank account.
Cyber Insurance is Rapidly Increasing
The cost of cyber Insurance is rapidly increasing and insurers are requiring businesses to prove their “cyber hygiene” and that their cyber security is protecting them well enough to ensure they are a low risk. We can help you assess where you are with your cyber security and with the help of some carefully selected specialist cyber insurance brokers, ensure your premium is kept to a minimum at the same time as improving your security to minimise the need to claim!
6.5 Billion people will be online by 2025
Small and mid enterprises
Data security breaches
Human errors
Get in touch with our Cyber Security experts and find out how we can help.
Percentage of UK businesses that experienced a cyber security breach in the past 12 months.
Small business
Medium business
Large business
What type of identified breaches did these businesses suffer?
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Fraudulent emails directing users to fraudulent websites
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Viruses, spyware or malware
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Others impersonating organisation in emails or online
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Ransomware
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Hacking or attempted hacking of online ban accounts
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Denial of service attacks
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Unauthorised use of computers, networks or servers by outsiders
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Other breaches or attacks
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Unauthorised use of computers
While there are measures that can be taken to protect a business, such as firewalls, passwords and encryption, these can’t help in the aftermath of a cyber attack.
Good Cyber Insurance Policies Include:
1st Party cover for the impact of a cyber incident on systems and finances e.g. IT forensics, business interruption and cybercrime.
3rd Party cover for the impact of a cyber incident on third parties e.g. loss of confidential data or the passing on of a virus.
Examples of Additional Cover Options:
Crime: direct financial loss resulting from the fraudulent input of instructions to transfer funds or property.
Payment card industry: fines and assessed amounts under a Merchant Services Agreement arising from a payment card breach.
Personal information violation: legal liability claims resulting from personal data collection, use, modification and destruction practices in violation of law or regulation.
Telephone hacking: liability for charges incurred as a result of the unauthorised criminal use of your telecommunications system.