Cyber-attacks are illegal attempts to gain access to organisations’ data or disrupt their operations for criminal, espionage, political, or mischievous purposes. Every day, millions of cyber-attacks target businesses, with some successfully breaching these companies’ defences and causing significant damage.

One increasingly common method of attack involves phishing emails that appear to come from a known colleague, tricking individuals into installing malicious software. This simple mistake can lead to your business being locked down, losing money, and being held to ransom.

Additionally, a rising number of data breaches originate from disgruntled employees with insider knowledge. These internal threats are particularly challenging to defend against and highlight the need for comprehensive cyber security measures.

Cyber insurance with CYB3R ensures you have expert support at every stage of a cyber incident. The standout benefits of cyber insurance include access to highly experienced professionals who can quickly neutralise threats and help mitigate disastrous consequences.

Rapid Access to Cyber Security Experts

With CYB3R’s cyber insurance, you gain immediate access to experts who will:

• Identify the cause of the breach

• Contain the breach to prevent further damage

• Manage the fallout and mitigate ongoing risks

Ultimately, our goal is to restore your organisation back to business as usual.

Covering the Costs of a Cyber Breach

Beyond emergency incident response and the costs of reinstalling hardware and software, CYB3R’s cyber liability policies cover:

• Costs of notifying clients

• Monitoring customers’ stolen credit card and ID details

• Business interruption and alternative costs of working

• Investigation costs

• Extortion costs

• Legal defence fees and damages

Swift Response When Trouble Hits

1. Forensic IT Analysts

CYB3R provides forensic IT analysts who are experts in nullifying threats quickly. These specialists understand the modus operandi of cyber criminals and the nuanced behaviour of the latest threats, enabling them to resolve breaches faster. They hunt down the breach, restore security, and prevent further business interruption and regulatory investigation.

2. Specialist Lawyers

Receive prompt advice from commercial lawyers with extensive experience in handling cyber claims. They help navigate complex compliance situations and can even fight your case if necessary.

3. Public Relations Experts

Public relations experts with deep experience in crisis communications are essential. Mandatory notifications and disgruntled customers can leak breach information to the media. Properly managed PR ensures your reputation is protected, preventing further repercussions with your existing customers and stakeholders.

We’d like to assure you that Cyber Security Insurance covers a wide range of incidents, but like most insurance products, it won't cover every eventuality. Typical exclusions include:

• Predicted, Potential, or Future Lost Profits: Cyber insurance does not cover anticipated profits that may have been lost due to a cyber event.

• Business Devaluation Due to Theft of Intellectual Property: Any reduction in business value resulting from the theft of Intellectual Property (designs, moulds, specifications, etc.) is not covered.

• Costs of Improving Technology and Systems: Any expenses incurred in upgrading your technology and systems internally, including software or security upgrades following a cyber event, are not covered. Insurance aims to restore your position to what it was prior to the loss, so improvements (considered "betterment") are excluded.

• Physical Damage to Hardware: Cyber insurance does not cover physical damage to your hardware, such as accidental damage, water damage, fire, or equipment breakdown.

• Monies Transferred Due to Phishing Attacks: Any funds transferred from your account as a result of or in response to a phishing attack are not covered.

By understanding these exclusions, you can better appreciate the scope of your Cyber Security Insurance and ensure you have comprehensive protection in place.

While typical Cyber Security Insurance policies cover you against most common risks, insurers offer additional layers of protection to address your unique needs. These include add-ons such as:

• Media Liability: This covers defamation, privacy rights violations, and plagiarism.

• Hardware Repair or Replacement Costs: Coverage for the expenses related to repairing or replacing damaged hardware.

• Reputation Repair Fees: Costs associated with restoring the reputation of the insured business.

These additional protections ensure comprehensive coverage tailored to your specific cyber security needs.

Securing value for money on Cyber Security Insurance involves strategic steps to ensure comprehensive coverage without overspending.

Plan Ahead: Avoid purchasing insurance at the last minute. Allow yourself ample time to evaluate the coverage you need against the options available in the market. Rushing can lead to overspending or settling for inadequate cover.

Seek Expert Advice: Don’t attempt to find the best policy on your own. Let the experts help! At CYB3R, our Insurance Advisors do the hard work for you, ensuring you get the best policy at the best price. No extra cost + no waste of your time = a winning formula!

Consider Coverage, Not Just Cost: While it's important to be mindful of your budget, focusing solely on price can be a false economy. Ensure you have the correct cover to avoid significant losses when making a claim.

By following these steps, you can secure the most effective and economical Cyber Security Insurance for your needs.