Five years ago, the world’s most stringent security and privacy law was enacted. The General Data Protection Regulation (GDPR) was formulated by the European Union (EU) and has become the benchmark for similar laws worldwide. Even though the UK has since left the EU, GDPR continues to apply to any business processing the personal data…
Continue reading "Does Cyber Insurance Cover GDPR Fines?"Category: Cyber
Does Cyber Insurance Cover Social Engineering?
There has been a recent resurgence in cyberattacks, with a 7% global year-on-year increase in Q1 2023. This demonstrates that now more than ever, you must prepare your defences against malicious actors. One of the most common attacks to be aware of is social engineering. This guide discusses social engineering and whether your cyber insurance…
Continue reading "Does Cyber Insurance Cover Social Engineering?"Does Cyber Insurance Cover Cryptocurrency?
Does your company hold cryptocurrency? According to the Financial Times, crypto fraud has risen by 40% year-on-year; but, will cyber insurance protect you if your cryptocurrency disappears as part of a successful cyberattack? This guide answers this question and discusses the cryptocurrency attacks that make insurance necessary. Is cryptocurrency fraud a cybercrime? In the UK,…
Continue reading "Does Cyber Insurance Cover Cryptocurrency?"Does Cyber Insurance Cover Phishing?
Phishing attacks are among the most common risks UK businesses face. They work by impersonating someone reputable to obtain money, secrets or customer data. In fact, 83% of businesses that suffered from a cyber attack reported phishing as the attack vector. It demonstrates that policies like cyber insurance have become just as essential as property…
Continue reading "Does Cyber Insurance Cover Phishing?"What is a Waiting Period in Cyber Insurance?
Your business faces many risks, but an ever-present threat is cyberattacks. UK firms are uniquely positioned because the UK reported the highest rate of cyberattacks of any European nation. For this reason, cyber insurance is a must-have for any business serious about its security. This guide discusses waiting periods in cyber insurance and how these…
Continue reading "What is a Waiting Period in Cyber Insurance?"How are Cyber Insurance Premiums Calculated?
With more and more business being carried out online, companies and organisations face growing cyber threats, from ransomware attacks to data breaches. The potential financial losses resulting from these cyber crimes can be devastating, so many businesses are turning to cyber insurance to protect themselves. This article explains how cyber insurance premiums are calculated, what…
Continue reading "How are Cyber Insurance Premiums Calculated?"Questions You Should Ask Before Investing in Cyber Insurance
With cyber-attacks increasing, investing in cyber insurance is crucial for businesses and organisations of all sizes to protect themselves from the reputational and financial risks associated with cybercrime. Before you invest in cyber insurance, consider asking the following questions to be sure you get coverage that best suits your business needs. What to look for…
Continue reading "Questions You Should Ask Before Investing in Cyber Insurance"Do I Need Cyber Insurance if I Have Professional Indemnity Insurance?
Cyber insurance is a must-have for any business of any size. If you operate online, cyber insurance can protect you against a myriad of threats, including financial loss and business interruption. Across all UK businesses, there were 2.39 million instances of cybercrime in 2023, making this an urgent problem if you remain unprotected. This guide…
Continue reading "Do I Need Cyber Insurance if I Have Professional Indemnity Insurance?"What is Cyber Extortion?
These days, most businesses have an online presence and use the internet for many of their daily transactions, communication with customers and other third parties. Unfortunately, online criminals are well aware of that and will exploit any system and network vulnerabilities they find for nefarious purposes. What is cyber extortion? Cyber extortion is a form…
Continue reading "What is Cyber Extortion?"Does Cyber Insurance Cover Ransomware?
Cybercrime has never been a greater threat than today. According to the Cyber Security Breaches Survey 2023, 2.39 million instances of cybercrime were reported; but the one type of attack that often makes headlines is ransomware. These attacks encrypt everything on your network and demand a fee to decrypt it. If you fail to pay…
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