45% of businesses (43%) and 28% of charities reported having experienced any kind of cyber security breach or attack in the last 12 months.
This equates to approximately 612,000 UK businesses and 57,000 UK charities therefore, we wanted to make you aware of the protection available in the unfortunate event you were a victim of a cyber attack. The financial and operational impact can be severe.
In an increasingly digital world, businesses of all sizes rely heavily on technology to operate efficiently, store sensitive information, and communicate with customers. Unfortunately, this reliance also increases exposure to cyber threats such as ransomware, data breaches, phishing attacks, and system outages. These incidents can result in significant financial losses, reputational damage, and operational disruption.
To help safeguard your business against these risks, we strongly recommend considering Cyber Insurance as part of your overall risk management strategy.
A comprehensive cyber policy can provide valuable support before, during, and after a cyber incident including:
- Forensic investigation and incident response
- System restoration and data recovery
- Legal advice and regulatory support
- Customer notification and PR management
- Business interruption losses
- Ransomware and cyber extortion payments
Premiums vary depending on factors such as business size, industry, data sensitivity, and existing cybersecurity measures.
However, SME cyber insurance policies typically start from £250–£800 per year for basic cover, with more comprehensive protection generally ranging from £1,000–£3,000 annually.
Investing in cyber insurance not only adds an essential layer of protection but also demonstrates your commitment to safeguarding your business, your clients, and your data.
We would be pleased to discuss suitable options and provide a personalised quotation tailored to your specific needs and budget. If you already have a Cyber Insurance policy, we’re more than happy to conduct a no-obligation review to see if your current policy still meets your business’ requirements.
Get in touch with one of our brokers today about Cyber insurance or any other type of insurance that you may have a question about.
