We put questions to Premier Partners Swinton Business on Cyber Insurance
Tuesday, 7 May 2019
So we were fortunate enough to catch up with Derek Bentley from Premier Partners Swinton Business and put some questions to him on cyber insurance. Here's what he had to say:
Question: Why should a business take out Cyber Insurance?
Derek answered: Out of all the risks your business could face, losing your data or finding yourself in the hands of a cyber hacker who has taken control of your computer system isn’t something that you may have considered or if you have, something that you thought would never happen to you.
Cyber-attacks can lead to costs against your business from lost revenue, handling a data breach, a damaged reputation, and legal and regulatory costs – not to mention the associated business disruption.
Taking preventative measures can be crucial in helping to stop these attacks from happening but sometimes these measures aren’t always enough – that’s where Cyber Insurance comes in.
Question: What support does a business receive should they fall victim to a cyber-attack
Derek replied: At Swinton Business, we have partnered with select insurers to offer our customers Cyber Insurance, which provides protection should you fall victim to a cyber related attack.
Whether you’re held to ransom by a hacker and need to know what to do, need to notify your customers that you’ve had a data breach, or need financial support for loss of income, speak to us on how Cyber Insurance could help.
You can also be assured that should you suffer a cyber-attack you will get access to IT experts to help get your business back up and running with minimum disruption.
Question: What is included in Cyber Insurance cover?
- Support from IT forensics and cyber specialists to investigate and get your computer system back up and running in the aftermath of a cyber-attack.
- Legal costs associated with managing a response to a data breach.
- The costs of notifying customers, regulators and affected parties should a data breach happen.
- Loss of income if your business is out of action following the impact of a cyber related crime.
- Support in managing a situation where a threat is made against your computer system or is held to ransom.
- Unintentional transmission of a virus or if you mistakenly infringe upon a parties copyright. Credit monitoring costs to help prevent further impact to your customers.
- PR costs to help minimise the damage to your brand and reputation.
These are just some of the areas a Cyber Insurance policy can cover and terms and conditions do apply.
If Cyber Insurance is something you’d like to discuss further, our team are on hand to do just that!
It is important to point out the Swinton Business offers a full range of Commercial/Business solutions to all trades and Businesses, not just cyber insurance. We will carry out a no obligation review of any Chamber member Business Insurance.