Cyber Insurance Services in Birmingham
One of the most recent types of insurance that Birmingham's insurance industry offers. Numerous high-profile incidents involving companies whose data was stolen or accessed have been reported in the media.
Losses associated with, damage to, or information loss from IT systems and networks are covered by cyber insurance in Birmingham.
Policies offer substantial support and event management, which can be crucial when dealing with regulatory enforcement or reputational harm.
Cyber Insurance Is No Longer Optional
You must safeguard your company from financial loss, data breaches, and cyberattacks. There is a danger to your data, client confidence, and business continuity. Cyber insurance keeps you in compliance with UK data requirements and speeds up your recovery.
Why Cyber Insurance Matters In Birmingham
“One in Three UK SMEs Will Suffer a Cyber Attack This Year”
- Cyber attacks have cost UK businesess £44bn in the last 5 years!
- Recovery time: 23 days average downtime!
- 60% of SMEs close within 6 months of a serious breach!
Regardless of the strength of your cyber security, breaches still occur, and the resulting financial, legal, and reputational repercussions can be disastrous. Birmingham cyber insurance enhances cybersecurity rather than replaces it. It serves as your emergency tech team, legal counsel, and financial safety net all in one!
Five leading causes of cyber security breaches:
Phishing – when users are tricked by scam mails into sharing credentials or unintentionally downloading malicious software.
Brute force attacks - where crooks attempt to guess encryption keys or login and password combinations through trial and error.
Denial of service – when thieves try to overwhelm a website or computer network in order to prevent it from operating normally.
Errors – If security settings are incorrectly setup, such as when they are not maintained, implemented badly, or are set to default.
Supply chain attacks - where your own systems are breached by means of compromised goods, services, or technology.
*source ICO
What Cyber Insurance Covers In Birmingham
A personalised policy in Birmingham that is tailored to your particular business operations and will react to:
- Data Breach Response & Notification Costs
- Business Interruption & Revenue Loss
- Ransomware & Cyber Extortion
- Third-Party Liability (e.g. client lawsuits)
- Regulatory Fines & Legal Support
- 24/7 Incident Response Hotline
Local Cyber Insurance in Birmingham Broker
Contact Your Local Insurance Broker
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