Cyber insurance
Real-world protection for your digitally connected business
We arrange cyber and data breach insurance for small businesses
IT and data are core to the running of many UK small businesses. Cyber incidents instigated by viruses, fraudsters, and hackers can damage both your business operations and your reputation.
Managing these risks and the risk of human error can be important to businesses. The right measures can help you avoid breaking the law, incurring penalties and protect your business. An effective measure could be to implement a robust cyber insurance policy.
Through Clear Business, you can choose a cyber insurance policy from insurers on our panel. We’ll look around, so you don’t have to. Cyber security insurance protects your business from human error causing a cyber-attack or a cyber breach. One of our business insurance team can discuss your options, helping to give you peace of mind that you are protected.
Cyber risk insurance can protect you from incidents and subsequent claims, including:
Compensation for business interruption
When you experience a cyber event, it can grind your business to a halt. Cyber cover could compensate for income loss you may suffer because of an attack.
Support for data breaches
Cyber insurance arranged by Clear Business can provide support in the event of a data breach or an accidental data loss.
Reimbursement for hacker damage
Fixing the damage that hackers have caused can be expensive. With cyber cover, your costs will be reimbursed to protect your financial position.
Cover for legal action
Data breaches can often lead to expensive legal action. Cyber cover protects you against these costs.
What is cyber insurance?
Simply put, it's a policy that protects you from the financial implications that result from a cyber-attack or incident.
Your cyber insurance can also help when defending yourself (or meeting settlements) if you face legal action from a data breach. It can also cover legal bills and fines if, for example, you inadvertently infringe on a third party’s digital copyright or libel a third party online.
Swipe across to read about how cyber cover could protect your business.
What if a hacker damages my business' IT systems, websites, or data files?
Your cyber insurance could reimburse the costs of repairing, replacing, or restoring such items.
At Clear Business, our team will source policies that fit your business needs which could include protecting your business's income, customers, and reputation in the event of a cyber security breach.
Here at Clear Business, we understand that different businesses have diverse needs. That’s why we can source a variety of quotes from a panel of insurers.
What a cyber insurance policy can include
Cyber insurance policies arranged by Clear Business could protect you from the financial implications that can result from a cyber-attack or incident.
Protection can provide coverage for:
Data breaches
A breach of security that results in unintentional or unlawful destruction, loss, alteration, unauthorised disclosure, or access to personal data is referred to as a data breach. It encompasses both intentional and unintentional breaches. The UK GDPR (General Data Protection Regulation) requires you to notify parties affected directly as soon as possible. Especially if a breach is likely to result in a risk to their rights and freedoms. Policies can offer support for hacker breaches and accidental loss of data by covering the subsequent costs, completing forensic investigations, notifying the relevant parties, and providing credit monitoring support and legal advice.
Cyber business interruption
Damage caused by hackers may temporarily prevent you from earning an income. This could impact your brand reputation. We can source cover with compensation available for loss of income and reputational damage following a cyber-attack.
Cyber extortion
Cyber extortion is when hackers hold your systems, data, or site 'hostage' until you meet their demands. For example; ransomware, which involves a hacker tricking an employee into opening a link or file within an email. By opening a link or file, the employee activates the ransomware which encrypts your data and servers. Cyber insurance policy options can protect you by covering ransoms you are forced to pay and the costs of hiring a risk consultancy firm to manage the situation.
Hacker damage
Hackers can damage your business's digital assets. Cyber insurance for business assets reimburses costs incurred in the restoration, repair, or replacement of systems, data, websites, and programmes.
Crisis containment
We can source cyber insurance coverage that goes beyond compensation. We understand the reputational impact of cyber incidents, and cyber liability insurance should include support from a public relations firm. This can assist in post-incident communications with customers and stakeholders.
Privacy protection
If personal data security fails, cyber insurance for small businesses can help to settle claims. The comprehensive nature of cyber insurance cover means some policies can cover regulatory investigation costs and potential civil penalties.
Media liability
Cyber cover can include scenarios like inadvertent copyright infringement or libel in digital communications. For example, you may have used a picture without permission from the original owner, or you could libel a third party in your digital communications. If this is important to you, we can look for insurance designed to support you in many media liability situations.
Why do small businesses choose cyber insurance?
IT issues, such as malware (malicious software) and ransomware (demanding financial payments), can be destructive to companies.
A number of sectors consider cyber insurance important including professional services, manufacturing, retail, and hospitality and other businesses that hold sensitive customer information.
Clear Business helps you to understand cyber insurance and what it can cover. We take the time to understand your business and what’s important to you. We then search our panel of insurers for cyber cover, saving you time.
Do I need cyber insurance?
Cyber insurance can offer protection for a variety of circumstances.
As a non-advised broker, we can’t tell you if you need cyber insurance. What we can do is talk through your concerns and the needs of your business. We can then give you information so that you can make an informed decision on what's right for you.
Cyber insurance for specific sectors
Swipe across to read about how cyber cover could protect your business from risk.
Why choose Clear Business for finding your cyber insurance
Get a quote for cyber insurance for your business needs.
Up to £5 million of cover
Claims can be expensive, that’s why we source cover that offers up to £5 million worth of public liability cover. With more available upon request.
Simple, Specific cover
To help save you both time and money. We compare prices from a panel of different insurers, so you don’t have to. Giving you back more time to run your business.
A team that knows your industry
We're business insurance specialists, so we know how important it is to understand your unique requirements.
Easy claims process
Accidents can happen, so when something does go wrong you can rest easy knowing our team is on hand to help make the claims process as quick and stress free as possible.
No mid term fees
We don’t charge any mid-term fees at all during the life of your policy (though your insurer might and your premium may increase depending on the change.)