The Cost of Investigating a Cybercrime

Expenses Related to Recovering Data Lost in a Security Breach

Restoration of Compromised Computer Systems

Reputation Management Services

Payments Made in Response to Extortion Demands from Hackers

Notification Costs if Required to Inform Affected Third Parties

Loss of Margin Resulting from Business Interruption

Costs and Lost Margin Occurred Through Outside Service Provider Like Cloud Services

What does Cyber Insurance cover

In the event of cyber-attack, most cyber insurance policies provide coverage for both first-party and third-party financial and reputational costs arising from the loss, damage, theft, or corruption of data or electronic systems.

Who needs cyber insurance?

If your business utilizes, transmits, or stores electronic data, you may benefit from cyber insurance. Whether this data pertains to the business itself or involves sensitive customer information, it is prone to cyber-attacks and data breaches. Cyber insurance can assist with the costs associated with recovery in such scenarios.

Consequently, cyber insurance is not only needed for large organizations but also for SME sized companies since It provides financial support in the event of a significant cyber incident.

Professional Indemnity Insurance offers protection against legal costs and expenses incurred if you are found liable in court for providing inadequate advice, services, or designs that result in financial loss for your client. This insurance helps mitigate significant potential financial risks for businesses that offer consultative services. Professional Indemnity Insurance can cover the costs associated with defending against claims. Additionally, it can cover any compensation or damages awarded, up to the limit of the policy coverage. This type of insurance is commonly provided for professionals across various industries, including legal professionals, medical practitioners, engineers, and consultants.

Professional Indemnity

Bernd Martens

Group Commercial Director

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Directors and Officers (D&O) Insurance is a crucial form of coverage designed to protect the personal assets of individuals serving as directors, officers, and other senior leaders within a company, particularly. The primary purpose D&O insurance is to shield these key individuals from the potentially substantial legal expenses and settlements that may arise from lawsuits alleging misconduct in the management of the company's affairs. These lawsuits often target the individuals personally, making the D&O policy vital in safeguarding their personal financial resources. Hence, D&O insurance is frequently referred to as "Personal Net Worth Insurance."

In today's business environment, D&O insurance is indispensable for anyone involved in the leadership, management, or guidance of a company. It provides essential protection against the risks of personal liability and the repercussions of litigation, ensuring that those in decision-making positions can operate with greater security and confidence.

Cyber insurance is a type of coverage specifically intended to safeguard your business against digital-era threats, including data breaches and malicious cyber attacks on computer systems.

While it is the responsibility of a business to ensure its own cybersecurity, having appropriate insurance coverage in the event of a cyber incident can provide essential support and assistance. This coverage can be crucial in helping your business remain operational.

Cyber