Why choose Our Cyber Insurance ?
Comprehensive Cover
From network security attacks to data breach fallout, our policies are designed to cover a wide range of cyber incidents.
Expert Support
Our team is here to assist you every step of the way, from risk assessment to incident response.
Customisable Policies
Tailor your coverage to fit the unique needs of your business, ensuring you're protected where it matters most.
Client-Centric Approach
At Gauntlet Select you’re not just a client; you’re a valued partner. We prioritise your interests, provide transparent advice, and guide you toward informed decisions. Your success is our success, and we’re here to support you every step of the way.
What is covered by a Cyber Insurance Policy?
Cyber insurance is a specialised form of coverage designed to shield your business from the ever-evolving threats in the digital landscape. As technology advances, so do the risks—ranging from data breaches to malicious cyber attacks on your computer systems. While businesses are responsible for their own cyber security, having the right insurance ensures you’re not alone when facing a cyber incident.
The following highlights the main sections of cover provided under a typical Cyber Insurance Policy.
Data Breach Coverage
If your sensitive data (such as customer information) is compromised, cyber insurance covers the costs associated with investigating the breach, notifying affected parties, and managing your reputation.
Ensures a swift response, minimises damage and maintains trust.
Business Interruption Protection
If a cyber attack forces your business to temporarily shut down, cyber insurance can compensate for lost income during the downtime.
Gives you financial stability during disruptions.
Ransomware Recovery
Cyber insurance assists in handling ransom demands from hackers. It covers the costs of negotiating, paying the ransom (if necessary), and restoring systems.
Helps avoid prolonged business disruption.
Third-Party Liability
Covers legal expenses and damages if a third party (such as a customer or supplier) sues you due to a data breach.
Gives you legal protection and financial support during a difficult period.
Cyber Extortion
If cybercriminals threaten your business with extortion (e.g., DDoS attacks), cyber insurance helps manage the situation.
Mitigates potential financial losses.
Frequently Asked Questions
Who Needs Cyber Insurance?
Any business using, sending, or storing electronic data can benefit from cyber insurance. It’s crucial for small and large enterprises alike.
Does Cyber Insurance Reduce Risk?
While it doesn’t prevent cyber incidents, it provides financial support and risk management tools.
How Is Cyber Insurance Calculated?
Factors include annual revenue, industry, data type held, and network security level.
What Are the Most Common Cyber Insurance Claims?
Data breaches, ransomware, and business interruption top the list.