Business is all about managing risk and the biggest tool in business these days is your computer….whether it be the Computer that is your Laptop, your Mobile Phone or your phone system. We have all encountered system problems slowing our day but the consequences of a denial of access attack or data breach can be crippling.
The first step is to take the tech advice, have strong passwords, an up to date quality anti-virus and strong firewall. Our link to our friends Titania will help check how your system measures up and point you in the right direction to improve your system. Should you need help with this our partners will be able to assist you tighten this security in the areas highlighted.
So you have done all you reasonably can but you need reassurance and help should the worse still happen…. And that is where we come in.
From data being stolen, Phising attacks, denial of service attacks and social engineering fraud insurance can help minimise your risk.
Cover for breach costs, Cyber business Interruption, privacy protection, hacker damage, media liability and Cyber extortion are all typical of the covers we can place for you as a cyber package.
So how much cover do I need?? For most medium size companies the advice ranges from ‘at least a million’ to as ‘much as you can afford’.
The key is the data records you hold. If you have the details of 7500 clients then a breach of these could cost approx. £115 to write to, to monitor the credit of and to keep informed. This would use in excess of £850,000. Informing the data commissioner and making sure your system is secure against further attack would quickly add cost. So you can see how £1,000,000 of cover is not pie in the sky.
All we need to know is the type of business you are, your turnover, number of client records and we will be on the road to putting the final reassurance in place in this ever evolving cyber world.