Cyber Insurance

Every business faces the threat of a cyber attack. As we continue to operate in an increasingly digital world, and cyber criminals become more sophisticated, we all face greater and ongoing exposure. Businesses have a responsibility to protect their company data, information, and computer systems from the increasing likelihood of a breach. Despite strengthened cyber security measures and employee education initiatives, cyber attacks remain a very real exposure.

A cyber attack could have serious legal and financial consequences to any business and cause wide-spread reputational damage. It can shut down an operation for days or weeks and be extremely detrimental to the running of your business. 

A tailored stand-alone Cyber Liability policy is an essential part of your insurance program to help protect your business.

We manage risk on your behalf

Cyber insurance is a risk management strategy that provides your organisation with a level of security from internet-based risks. Cyber risks include hacking, data theft, ransomware, misplaced or mishandled files, illegal acts or inadvertent security breaches by employees, and improper discarding of computers or hardware.   

As the concept of cyber-crime is relatively new, traditional insurance policies generally do not cover the full range of risks, with many gaps in coverage. 

There are a range of coverage options available under Cyber Liability; offering protection following a breach, covering costs incurred from:

• Common incidents – network extortion, cyber espionage, identity theft, data breaches, and online scams.
• First Party Loss – business interruption, electronic data replacement, forensic breach response and reputational damage.
• Third Party Loss – security and privacy liability, defence cost, regulatory breach liability, multimedia and intellectual property liability.

At BRIC we focus on risk management strategies to suit your organisation’s needs. 

We work with you to protect your assets and remove stress or confusion from the insurance process.