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Cyber Liability Insurance

Cyber Liability Insurance

As insurance brokers, IC Insurance does all the hard work for you, so let us take care of your insurance needs.You don’t have to worry about anything – we’ll search all companies to find the best quote and provide you with affordable insurance cover on our vast portfolio of products. Our process is also quick and straightforward and offers you handpicked insurance policies you can trust. To request a quote, send us your details and we’ll come back to you within 24 hours on business days.
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Compliment your Business Needs With 
Cyber Liability Insurance

Did you know your business is 9 times more likely to be a victim of cybercrime than a burglary?

According to a UK Government Survey, 81% of large businesses and 60% of small businesses were affected by a cyber-breach in 2014.

The average cost of a cybersecurity breach is £600k to £1.15m for large companies and 65 k to 115k for small to medium enterprises.

Clearly, technology and e-transactions play such a key role in the business landscape. In these times, it is crucial to insure your business against any possible damages or liabilities that may occur during operations.

At IC Insurance Solutions, we understand how devastating cybercrimes can be for businesses. This is why we have partnered with the best insurers to tailor cyber liability insurance packages that factor in your specific circumstances and requirements. Our insurance experts design packages that are compliment your business needs.

Specialised cyber liability insurance packages by IC Insurance will address your key exposures and keep your business insured during major security breaches.

Does Your UK-Based Business Need Cyber Liability Insurance?

One in every three small businesses in the UK has been adversely affected by cybercrime. Small businesses have thrived in the UK but the risks they face from hacking and security breaches have also increased over time.

So if you are based in the UK, having a cyber-liability insurance plan can provide security and protection to your business. You need cyber insurance cover if:

• You hold customer, supplier or employee information like names, addresses, email addresses or bank details.
• You use a computer to run your business.
• You take card payments or make electronic payments.
• You have a website.

What is Cyber Liability Insurance?

Cyber liability insurance, also known as cyber risks insurance or cyber liability insurance cover, is designed to protect your business if it suffers a malicious data breach or is targeted by a hacker.

Cybersecurity breaches can expose your business to many possible risks, like income loss, repair expenses, business interruption, damaged reputation and regulatory fines.

An effective cyber insurance policy caters for these risks and covers the financial loss associated with damage to or loss of information from IT systems, data systems and networks.

What Does Cyber Insurance Cover?

Our bespoke cyber liability insurance packages cover:

Financial and 
Reputational costs

Cyber insurance covers financial and reputational costs if data or electronic systems are damaged, lost, corrupted or stolen during a cyber-attack.

Additional 
Costs

Cover can include the cost of post-attack measures such as investigation as well as data recovery and computer system restoration. Cyber insurance also covers loss of income caused by a business shutdown, reputation management, extortion payments to hackers and notification costs.

Lawsuits

Cyber liability insurance also protects your business against legal claims and covers damages and settlements. It also compensates the cost of legally defending your business against claims of a GDPR breach.

Optional Cyber Liability Insurance Extras

You may also want to look into:

Financial Crime and 
Fraud Cover

Cyber criminals can steal your funds, impersonate your business and trick your employees into transferring funds or merchandise to them.

Our flexible insurance policies can cover you against this by ensuring your business for the financial loss suffered from fraudulent activities and theft.

Property Damage 
Cover

A cyberattack can also cause physical damage to your business equipment or property, for example, malfunctioning servers and broken computers.

Property damage insurance policy covers the expense incurred in repairing or replacing faulty equipment.

Dependent Business 
Interruption

Cyber liability insurance also protects your business against legal claims and covers damages and settlements. It also compensates the cost of legally defending your business against claims of a GDPR breach.

Request a Cyber Liability Insurance Quote

As insurance brokers, IC Insurance does all the hard work for you, so let us take care of your insurance needs. IC Insurance Solutions is a vibrant and enthusiastic insurance intermediary with a passionate team comprising of experienced insurance experts and seasoned brokers. We know the market inside out and our strong partnership with insurance providers enables us to provide comprehensive coverage to you at a competitive price. If you have got any questions or you want to obtain a free quotation, get in touch with our specialist advisors, right away. Contact our office on +441204 565600 or email us on info@icinsurance.co.uk.
To request a quote, send us your details and we’ll come back to you within 24 hours on business days.
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years of expertise

Putting the customer first is at the heart of everything we do here at IC Insurance Solutions

Using our expertise and market awareness we are commited to solving our clients insurance needs by helping them to quantify and manage the risks to their business in the most effective way. Helping clients navigate the insurance market to find the right policy to protect their business at a competitve premium.
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We are proud to announce that we have been awarded the winning position of commercial lines broker at the UK National Insurance Awards 2023.

The National Insurance Awards is widely considered to be one of the most prestigious events in the insurance industry, and this achievement is a testament to the hard work and dedication of everyone here at IC Insurance.
We are a team of experienced insurance
brokers working together with our customers to understand and fulfil their insurance needs.
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