Cyber Insurance

Cyber Insurance

The risk of a Cyber attack or Data breach is a real concern for all businesses and with the forthcoming GDPR legislation, it is even more important that you look for suitable Cyber Insurance. Absolute Cyber Insurance can help to ensure your business is fully protected including losses arising from ransomware and business interruption.

Providing cover from specialist underwriters, to meet the requirements of a specific contract or project, we can insure our construction business against all insurable risks. 

What does a Cyber threat look like?    

This can be categorised in three ways:-          

  • Deliberate and Unauthorised Breaches of Security
  • Unintentional or accidental breaches of Security
  • Operational IT Risks due to poor systems integrity or other factors               

The Facts

The Governments National Cyber Security Centre's 2016/2017 report identified that

  •      "The Cyber threat to the UK business is significant and growing".
  •      "The Threat is varied and adaptable". 
  •      "The past year has been punctuated by Cyber attacks on a scale and boldness not seen before".

General Data Protection Regulation (GDPR)

  •      Designed to enable individuals to better control their personal data.
  •      Became Law in 2016
  •      Enforcement will commence Mid 2018 at the latest. 
  •      Regulators will have the authority to issue penalties of €20million or 4% of Global Gross Revenue

Am I at Risk?

It is not a matter of if an attack will happen it's a matter of when

  •      66% of UK companies were subject to Cyber-attacks in 2016
  •      54% were hit with Ransomware attacks
  •      57% of Cyber-attacks / Breaches came from employees

Insurance 

Here at Absolute Insurance brokers - we can help you insure yourself against this Cyber Risk. 

Please click here to download our Cyber Proposal Form.