Cyber insurance
Cyber insurance for the cost of an attack.
Financial cover and specialist support when a cyber incident affects your business.
Insurance complements your security, it does not replace it.
Security controls exist to reduce how likely an incident is, and how far it spreads. No system removes the risk entirely.
When a covered incident does occur, cyber insurance can give you access to specialist help and meet part of the financial consequences, on the terms of the policy.
Three stages
- 01
Prevention
Technical controls, procedures, backups, access management and staff training.
Before - 02
Response
Forensic investigation, containment and, where provided, legal or communications support.
During - 03
Insurance
Cover for defined financial consequences of a covered incident, up to the limits of the policy.
After
The cover
What it can cover.
Depending on the policy:
- Incident response and investigation
- Restoring data and systems
- Business interruption and lost revenue
- Third-party claims
- Personal data breach incidents
- Legal and specialist support
Covers, limits and exclusions differ from one policy to another.
Common questions
Worth knowing.
We already have security controls. Do we need insurance?
The two work together. Controls reduce the likelihood; insurance addresses the financial consequences of a covered incident. A well-documented setup usually improves the insurance terms as well.
Are data protection fines covered?
Only where the applicable law permits it and the policy expressly provides for it. In Greece the question remains open: insuring an administrative fine is treated with caution on public-policy grounds, and is excluded in any event where there is intent. Investigation and legal support costs are a different matter from the fine itself.
What is looked at in order to quote?
Turnover, sector, the type and volume of data you hold, how far operations depend on systems, your backups and basic access controls.
Related solutions
The rest of the picture.
Each answers a different question. We look at them together, so there are neither gaps nor overlaps.
- The expertiseProfessional liabilityLiability for the services, design or advice the business provides.
- The leadershipDirectors & officers (D&O)Cover for the people who manage, for claims arising from their duties.
- The operationCommercial general liabilityLiability to people affected by your day-to-day operations, premises and products.
- The whole pictureBusiness insuranceThe starting point: property, operations, liability, people and continuity as one.
Let us look at the real exposure in your business.
We go through the activity, the data and the systems your operations actually depend on, and help you weigh the cyber cover available.