Commercial Insurance

Cyber Insurance

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Protect your business with cyber insurance

Every time you go online you are exposed to risks, and just one mistake could seriously harm your businesses reputation and financial stability. There is an ever growing number of ways that you could fall victim to cybercrime, here are a few examples:

  • All your customer data is encrypted and held to ransom after an employee accidently opens an email that contains malware.
  • Your website is hacked and all the content is removed, preventing any new online sales coming in and damaging your company perception to any website visitors.
  • Your telephone system is compromised preventing you from efficiently running your business and harming your client relations.
  • A keylogger is maliciously installed on an office computer, revealing your banking and management system credentials.

The need for cyber insurance

Cybercrime is one of the biggest threats to any business and can be very costly if you fall victim to it. The number of reported cybercrime incidents rose by 50% last year. Your business is nine times more likely to be a victim of cybercrime than burglary, with a reported 87% of small businesses and 93% of large organisations being affected by cybercrime last year.

Cyber insurance from Lloyd & Co

Lloyd & Co Insurance Services have developed a range of insurance solutions to protect against numerous threats, with cover including, but not limited to:

  • Current and future cyber risks
  • Business interruptions
  • Data breaches
  • Extortion
  • GDPR investigations
  • Human error
  • Reputation protection
  • System damage

At Lloyd & Co, we work closely with our clients to fully understand their business needs and requirements so we can provide the perfect and competitively priced cover. For this reason, cyber insurance might cost less than you think, but we believe in this modern age, it is essential for all businesses.