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Cyber Crime



Cyber Crime - the 21st Century crime 

Hacking, Phising, Spoofing, Malware, Ransomware, to name a few.  We’ve all heard of them although too many businesses either choose to ignore them or take inadequate protection against them.

Some industry experts believe that there are effectively two kinds of businesses; those that have been cyber attacked and those that are yet to be.

A recent study indicated that for small and medium sized businesses the average cost of the worst cyber security breaches was anywhere between £75000 and £300000.  Not a bad 'haul' when you consider that a large number of cyber crimes are perpetrated by someone miles away using a simple laptop, and with a limited chance of being brought to justice. 

The overall loss may not just be confined to the physical loss of funds. What about the cost of getting your systems back up and running following a ransomware attack or securing data and notifying affected clients and customers after a data theft?  The list goes on.


So how can we help?

Through a leading insurance scheme provider we can offer Cyber Risks Insurance Cover, and at very competitive premiums.

Examples of previous quotes include: Vet - £250k turnover - Premium under £170; Accountant - £250k turnover - Premium under £400; Double Glazing manufacturer - turnover £2m - Premium under £1300; Motor trader - £500k turnover - Premium under £600.


If you would like a free indication of your premium, please print off and fill in the attached Quotation Form via this link. The form should then be scanned and emailed back to us.

You may also like to click on 'A Guide to Cyber Risk Cover' which is a helpful booklet put together by the scheme provider, and details of the policy's Key Features are below:


A dedicated Cyber scheme including a 24/7 emergency response service.

 

DESIGNED FOR

SME businesses with revenue up to £3m. However our facility does enable us to place larger risks on a bespoke basis.

 

ELIGIBILITY

Cyber Risks Cover is available to UK registered companies. We have an agreed list of over 500 types of businesses that are acceptable without referral to underwriters. Certain risks cannot be covered. These include: USA related businesses and custodians or managers of client funds.

 

KEY FEATURES

247 Breach Response Service
In view of the serious business risks presented by a data security breach, it is important that a company is in a position to respond to and mitigate those risks promptly and effectively

 

Policy cover – this is split into 2 key parts:

Impact on the business – often referred to as FIRST PARTY

Impact on others – often referred to as THIRD PARTY

Standard limits available: £250,000, £500,000, £1m (higher limits on application)

Policy excesses – these vary depending on the turnover and type of business.

 

UNDERWRITTEN BY

Markel International Insurance Company Limited – London.

 

PREMIUMS

These are derived from the type of business, turnover and percentage of e-commerce trading. Premiums start at £150.













































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