Why Consider Cyber Insurance?
In the last two years, cyber‑threats for UK businesses have escalated in frequency, scale and cost. It’s no longer simply a matter of “IT security” – it’s business resilience.
The Shifting Landscape
- The NCSC reports that the number of “nationally significant” cyber‑incidents has more than doubled to 204 from 89 the previous year.
- High‑profile UK organisations such as Marks & Spencer and Co‑op have suffered serious breaches – with disrupted operations, compromised data and major recovery costs.
What Cyber Insurance Can Help to Deliver…
- Response and recovery support: forensic investigation, crisis communications, legal advice.
- Business interruption cover: In case of lost revenue while systems are down.
- Third‑party liability: when client data or partner systems are impacted.
These are just a few examples of what cyber cover can help with, depending on factors such as the level of cover you select and additional options chosen.
Beyond Insurance: The Value of Resilience
Cyber insurance isn’t a substitute for strong cyber‑hygiene. Instead, it can complement and support it. Where insurance is combined with robust policies, training and incident plans, businesses should be better placed to manage and recover from attacks.
If your business has never considered cyber‑insurance, or reviewed your cover recently, now is the time. Our seasoned insurance professionals can work with you to build an insurance program to meet your individual needs.