Small businesses are becoming increasingly vulnerable to cyber crime with 45% having suffered a security incident in 2008 according to the Department for Business Innovation and Skills, who also found that the average cost of an information security incident to a small company is £10,000–£20,000.
If you use the internet or email, the security of your office now involves far more than ensuring you have good door locks and alarms in place as criminals increasingly turn to cyber crime and the internet to defraud companies. The loss of a laptop or a smart phone, poor online security, or even employee sabotage can all lead to a business suffering from cyber crime.
Why your business might need insurance protection against cyber crime
- If your business uses the internet and email to conduct business you could be a target for cyber criminals
- A computer virus could cause significant disruption to your business and your ability to provide a normal service to your customers
- As well as practising good online security such as updating antivirus software, having regular backups and changing passwords, being fully insured can get your business up and running quickly in the event of a successful attack.
How Hiscox E-risks Insurance protects your company
- Hiscox’s E-risks Insurance has been designed specifically for small businesses who face risks as a result of the use of the internet and email
- E-risks Insurance will provide cover for a wide range of cyber crimes such as a virus damaging your website and/or systems, hacker attack, loss of confidential data, online identity fraud, or even infringement of someone else’s trademark on your website.
- If you negligently transmit a computer virus to a client or supplier you will be covered.
In the unfortunate event that your business does suffer a cyber crime, our knowledgeable and efficient UK-based claims team will quickly be on the case.
To find out more about Hiscox E-risks Insurance, see our policy documents >
