We live in a digital world and business is increasingly carried out online. Cyber insurance for business offers your business protection from digital threats. Your business may or may not sell online but you probably use email, have a computer system or handle customer data in some way.
If your business handles customer data or stores sensitive data, then it is open to the risk of cyber attack or data loss. A cyber attack or data breach can have financial and reputational consequences as well as interrupting the operation of your business.
The idea of a cyber attack may seem like a science fiction movie but it is possible that your computer system could be hacked or data stolen from your system for ransom, for example.
Protect your business against loss as a result of digital threats including hacking or cyber attack, or third party data breaches with cyber insurance.
![Cyber Insurance for Business Cyber Security Insurance for Business](https://compareinsurance.ie/wp-content/uploads/2024/07/Cyber-Insurance-for-Business.jpg)
Table of Content
What does cyber insurance for business cover?
Cyber insurance is a specialised type of business insurance that offers your business protection against digital threats or cyber crime.
Cyber crime can lead to loss of IT services, financial loss, or your business may be unable to operate for a time.
You may face the legal costs of defending a claim and the incident may need to be investigated, third parties notified, data and computer systems restored. Your business may also face regulatory fines and be liable for compensating third parties affected by the cyber event.
When getting cyber security, consider the following coverage:
Help after a cyber crime
Cyber insurance typically involves support in dealing with the aftermath of the digital crime or data breach, investigating the breach, restoring systems, recovering data, mitigating the effects on the reputation of your business, as well as financial protection for the costs associated with such an occurrence.
Who offers cyber insurance for business?
Standard business insurance may not always include cyber liability cover so it is important to discuss your business insurance needs with any potential insurer or with a business insurance broker, such as Compare Insurance, to ensure that your business is protected against digital threats.
Business insurance is provided by:
![Home-Insurance-Provider-AXA AXA - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-AXA.jpg)
![Home-Insurance-Provider-FBD FBD - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-FBD.jpg)
![Home-Insurance-Provider-AVIVA Aviva - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-AVIVA.jpg)
![RSA](https://compareinsurance.ie/wp-content/uploads/2023/05/RSA.jpeg)
![Home-Insurance-Provider-ZURICH Zurich - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-ZURICH-1.jpg)
![Home-Insurance-Provider-Allianz Allianz - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-Allianz.jpg)
![Home-Insurance-Provider-AIG AIG - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-AIG.jpg)
Specific cyber insurance is also offered by:
![Home-Insurance-Provider-kennco](https://compareinsurance.ie/wp-content/uploads/2023/07/Home-Insurance-Provider-kennco.jpg)
![Home-Insurance-Provider-AIG AIG - Home Insurance](https://compareinsurance.ie/wp-content/uploads/2023/04/Home-Insurance-Provider-AIG.jpg)
Benefits of cyber insurance for business
Cyber insurance for business offers protection against cyber attacks and data breaches in many ways:
What businesses need cyber insurance?
In short, all businesses can be open to cyber risk. If your business uses email, has a website, or operates computer systems or an IT network, especially if your business deals with data or stores sensitive data, then you may need business cyber insurance.
Business cyber insurance will protect your business against malicious activity and may help to ensure compliance with data regulation and laws. Cyber insurance can also protect the reputation of your business against any loss of confidence following a cyber attack or data breach.
![Business_insurance Business insurance for trades people usually includes product liability cover](https://compareinsurance.ie/wp-content/uploads/2023/06/Business_insurance.jpg)
GDPR compliance
GDPR is an EU regulation on the personal data and privacy of EU citizens collected and held by any organisation. If your business is in breach of this regulation, you may be liable for any loss suffered by a third party as a result of the data breach.
Business cyber insurance will protect and support your business. A cyber event can have serious financial and business repercussions for the business you have worked hard to grow.
Contact us today
Digital threats, such as cyber attack and data breach, can be devastating for your business. Get financial protection, as well as support in managing such an event, by purchasing cyber insurance.
Our specialist business insurance advisors can discuss your cyber insurance needs with you and assist you to find cover for the risks your business may be exposed to.
Cyber insurance is tailored to your individual businesses exposure to cyber risk and may not be as expensive as you think.
Fill out our online assessment or call us today and protect your business with cyber insurance.
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