Modern businesses operate almost exclusively online, yet many still overlook cyber insurance. PiiBrokers are specialists in cyber liability insurance and the cover available in the UK market.
A common misconception is that cyber security is the responsibility of your IT provider or cloud service. In reality, every business is responsible for its own data and cyber security. If your cloud-based systems are hit by a cyber attack, the resulting business interruption and financial losses fall on you — not your provider.
According to government statistics, 32% of UK businesses reported suffering a cyber attack or breach in 2023. Cyber threats are not exclusive to large corporations or government bodies. They affect businesses of every size, across every sector. Cyber insurance is an essential layer of protection, and PiiBrokers can help you find the right cover.
What is Cyber Insurance?
Cyber insurance is designed to protect individuals and businesses from the financial impact of modern digital threats, particularly damage to or loss of information from IT systems and networks.
What Does Cyber Insurance Cover?
- Data recovery following a security breach
- Investigating cybercrime
- Extortion payment demands by hackers
- Notification costs, including notifying affected third parties
- Reputation management and communications support
- Restoration of computer systems
- Cyber business interruption (available by negotiation)
- Cover for money held electronically (available by negotiation)
Cover varies between insurers, and speaking with one of our experts will help you identify the right product and response protocols for your business. Some package policies, such as office insurance, may include a cyber add-on, but these are rarely as comprehensive as a standalone policy and typically provide third-party cover only. PiiBrokers will review your existing arrangements to ensure your cover is fit for purpose.
To begin the quotation process, please submit your details below and a member of our team will be in touch.
