Specialist cover against targeted cyber-attacks from as little as £5 a month
Fast, easy online quote in just 90 seconds
Cyber response helpline included
No hidden fees or cancellation charges
Cover starting at just £5 a month
Frequently asked questions
Why do I need insurance if I have cyber security?
There’s no denying that having up-to-date cyber security controls in place, such as anti-virus software, can help minimise the chances of a system being successfully attacked. However, measures like this do not provide any sort of financial protection, meaning that in the event of a data breach, you’d be left to pick up the cost of putting things right. Cyber insurance gives you peace of mind that if you were to experience a targeted cyber attack, you’ll have financial protection in place.
What kind of claims does cyber insurance protect against?
Cyber insurance can protect your business against a wide range of different scenarios. Some examples include:
- A spreadsheet which contains some of your clients' personal information, including payment details, is stolen in a targeted attack against your business. Your cyber insurance policy provides financial cover associated with informing your customers of the hack, and it also covers any legal costs and damages you are required to pay to other parties involved.
- A hacker threatens to encrypt the hard drive of a laptop used within your business unless you meet a ransom deadline. Your cyber policy means you are covered for the cost of meeting and paying the ransom demand.
- As part of a targeted attack, there is an outage on your company website, causing the loss of data and meaning clients cannot access your services. Having cyber insurance in place means you are covered for the cost of restoring or reinstating this data to get your website back up and running, and you’ll be covered for loss of net profits too.
What other types of business insurance do I need?
Aside from cyber liability insurance, it’s important to think about what other types of insurance you may need for your business. Employers’ liability cover is a legal requirement for most businesses, and public liability insurance is also important if you’re in contact with members of the public. You may also find that professional indemnity insurance is useful, especially if your business offers advice.
Other types of cover that may be relevant to your business include:
- Legal expenses insurance
- Directors and officers insurance
- Office insurance
How are Markel regulated?
Markel International Insurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Find out more on the Financial Services Register.