Cyber insurance

Cyber insurance helps to protect your business against a variety of digital risks by supporting financially if you experience a damaging network event such as a cyber-attack. Also known as cyber liability insurance, this commercial cover is designed to react quickly to malware attacks, hacking events and electronic data breaches by funding investigation and reimbursing losses.

Whether your IT network is compromised as a result of losing sensitive data or criminals hold commercial information to ransom, we know recovery takes time and money. Specialist insurance may help firms of all sizes boost resilience to cyber risks, paving the way for a bounce-back.

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Why choose Hiscox for cyber insurance?



Training at your disposalCyber insurance customers get access to the CyberClear Academy – a training programme designed to reduce risk



Loss of income compensation

Our policy compensates for loss of income as a result of a data breach and we help to manage next steps too


GDPR support as standard

In the event of a data protection mishap, our cyber insurance covers investigation costs

Get cyber insurance for your business

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What is cyber insurance?

Cyber insurance is a type of specialist business cover dedicated to minimising the impact of threats that come with using the internet – it may be a helpful product, since the cost of digital incidents can be high, and no business knows what is around the corner.

Such risks include cyber crime, which can take many forms – fortunately, Hiscox insurance covers computerised attacks designed to disrupt or prevent access to a network, device or system.

An unsuspecting employee might click a malicious link, locking everyone from the email system – this is known as phishing. Alternatively, a hacker could manipulate website databases via SQL injection or use ransomware to demand steep sums of money.

Digital threats can also arise from within your business – an employee may accidentally share sensitive customer data, for instance.

Cyber insurance can assist financially in such instances, by funding recovery services and even helping with privacy liability costs if your business faces investigation.

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Cyber insurance – our guide

Watch how Hiscox cyber and data insurance helps a business recover from a ransomware attack by deploying a team of IT experts.

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Do I need cyber insurance?

Any business, contractor or freelancer using the internet as part of their work could fall prey to cyber crime or face a data breach which insurance might help to resolve.

This means enterprises of all shapes and sizes could stand to benefit from cyber insurance. Nonetheless, certain professions may have a greater need than others.

If your business operates primarily online or you handle large amounts of information, then cyber cover could play an important role in risk management.

A marketing agency which experiences accidental data loss may face a privacy complaint leading to steep legal fees, for instance.

Meanwhile, an IT consultant who relies on multiple software packages could lose income if these are locked by ransomware.

Management consultants and accountants could require reputational support if a cyber-attack impacts their public image, while insurance brokers may incur additional expenses as they race to recover a compromised system – all kinds of professions can benefit from having the right cyber cover in place.

I wasn't really sure of the correct type of insurance for my business, Hiscox website explained it perfectly and left no question that I was making the right choice.
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When should I get cyber insurance?

Cyber crime impacted more than 46% of UK businesses in 2019 and 2020 according to data outlined in our small business guide to cyber-attacks.

The stakes are getting higher, too. The Hiscox Cyber Readiness Report showed median losses increased by 600% in a similar period.

These problems affect businesses of all sizes. Start-ups may encounter social engineering trickery, such as phishing, as soon as they begin communicating digitally.

Likewise, any company with a website could experience hacking – and data breaches could affect the very first spreadsheet.

This means it may be smart to consider cyber security, and relevant insurance, from the early days of doing business.

How much cyber insurance cover will I need?

The optimal amount of cyber cover for your business depends on how much it would cost to get back on track after a worst-case-scenario cyber-attack or data breach.

This approach helps to ensure you aren’t left with insufficient funds in the event systems go down for an extended period, or criminals make a big ransom demand.

Understanding the nature of cyber threats may help you to recognise the extent of risk to your business.

The Hiscox CyberClear Academy could help with this – it’s an online training scheme that cyber policyholders receive automatic access to.

Is your business cyber ready?

Tell us about your business and answer a few quick questions about your cyber practices. We’ll give you a cyber health check rating to help you understand any risks and how you can improve.

What’s included in your cyber cover?

At Hiscox, we know the impact of cyber security events can be wide-reaching, so our insurance provides cover to match. It spans direct losses to your business, response costs and fees for recovery services.

Your cyber insurance cover includes:

  • Protection against GDPR non-compliance claims
  • Compensation for loss of income due to a data breach
  • Help to recover your position where there’s reputational damage
  • Forensic investigations to aid data recovery, plus legal advice
  • Help notifying regulators after an attack
  • Repair or replacement if cyber events damage your equipment
  • Indemnity for losses incurred if your supplier faces a breach
  • Consultancy support
  • Liability support if someone alleges you’ve transmitted a virus

Hiscox is rated 4.6/5 by real customers on Feefo over the past year, with 3068 total reviews. We've also won awards.

Cyber insurance FAQs

What examples are there of cyber crime?

Examples of cyber crime often hit the news. Large organisations have been held to eye-watering ransoms, as was the case with the WannaCry ransomware attack, or mass phishing attempts result in ordinary people losing large sums.

Read examples of recent cyber-attacks to learn how instances of photograph theft and cloud-based data breaches have affected well-known organisations.

Are cyber criminals targeting SMEs?

Cyber criminals can and do target small and medium-sized enterprises (SMEs), since most businesses use technology, from large financial services firms to small hair salons using digital forms for bookings.

Read our Cyber Readiness Report to discover the cyber risk profiles of small and large businesses. We also have a report dedicated to statistics in the technology, media and telecommunications (TMT) sector.

Are there any real-life examples of Hiscox cyber insurance claims?

Yes – one example of a Hiscox cyber insurance claim started when a customer of ours arrived at the office and quickly noticed something wasn’t right.

They’d recently upgraded systems to boost speed for customers. Unfortunately, hackers were able to lock the servers.

Specialists were drafted in to regain control of the servers, manage reputational damage and identify gaps in the company’s cyber security systems. Read the full story to learn the depth of support Hiscox can provide.

Cyber insurance articles and guides

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How to prevent hacking

Hacking is among the oldest forms of cyber crime. Learn methods to prevent hacking with our four-step checklist.

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A guide to cyber security risks for SMEs

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Six cyber tips your employees need to know when shopping online

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Bringing your own devices to work – what your business needs to know

Allowing employees to bring their own devices to work can pose cyber security risks - discover what your business needs to know to keep processes safe.

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The complete guide to cyber security

We understand how important protecting your business from threats can be – that’s why we’ve put together this complete guide to cyber security.

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Are cyber criminals targeting your industry?

No matter which sector you operate within, a cyber-attack could be damaging. Discover whether cyber criminals are targeting your industry in this article.