Cyber Liability
Online data breaches and network hacking are rapidly increasing threats that can impact any business, regardless of size
Protect your assets, secure your customers' valuable data, and offers crucial resources to safeguard your business from potentially devastating financial and reputational losses.
What is covered by Cyber Insurance?
As business owners work to recover information and resources from a data breach, our Cyber Liability Insurance cover includes:
Network or Business Interruption- Compensation for loss of revenue during downtime.
Security Overhaul-Costs to update or implement new security systems, and restore websites and data.
Concessions to customers- Coverage for offering free credit monitoring services to affected customers.
Data and software loss- Costs to recover your data and associated third-party data.
Reputational damage- Protection if you're held accountable for compromised customer details.
Breach Costs- Coverage for investigation, notification, and potential legal action you may wish to take.
Do I need Cyber Insurance?
Cyber liability is often excluded from Public Liability and Professional Indemnity Insurance. You need Cyber Liability Insurance if you:
Hold sensitive customer data (names, addresses, credit card details, banking information)
Depend on computer systems for business operations
Have a website or payment card merchant services agreement
Hackers can access sensitive business data, drain accounts, and ruin credit. Investing in quality cyber insurance provides peace of mind and protects against potentially catastrophic financial losses from data breaches.
Why choose Townsend McCormack for Cyber Liability Insurance?
Dedicated cyber insurance is crucial for managing cyber risk, but evaluating, mitigating and transferring cyber risk is not a simple task. It requires guidance from a trusted, expert advisor.
With experience dating back over the last forty years and thousands of policies placed, we use our market relationships to secure flexible coverage on favourable terms.
We offer a wide range of solutions from standard cyber policies for SMEs to complex bespoke solutions for large corporations. Our expert team tailors cyber insurance to fit each organisation’s unique needs and complements existing coverage.