Why do I need cyber insurance for my business?
You’ll almost certainly have heard of ransomeware. The Petya virus, WannaCry, they’ve in the news almost daily. And of course, they really hit the headlines when they affect huge organisations like the NHS and the high street banks. But small and medium sized businesses are affected too. Online attacks, data breaches and hacking attempts occur every single day and are affecting UK Businesses.
You need to protect your business – your livelihood – against these attacks, and the fallout that can follow for years after one occurs.
And that is why you should consider cyber insurance for your business. At Real Insurance, we can help.
Cyber liability insurance could be critical to your business
Criminals are gaining access to businesses IT. It could be they demand a ransom to let you back into your own systems, or release your customers personal records, leading to not just loss of face and brand image, but stiff financial penalties when it is determined that your business was even partially at fault for lax security.
How would you cope with the fall out if multiple customers brought action against your business because their information had fallen into the wrong hands as a result of a breach of your systems? Cyber liability insurance can be arranged, covering the costs not just of defending any legal action taken against you, but also covering compensation payouts that you face.