Why does my business need cyber and technology protection?

Every minute, somewhere in the world, a business is impacted in some way by cyber crime, hacking, downtime and loss of data.

Why are there so many problems with technology?

Businesses increasingly rely on technology to store and process their own and customers’ data, as well as controlling many other business activities, such as security access, credit control and computer-based manufacturing. The pace of innovation and change is accelerating, with constant development of new software and other technology services as companies seek to keep ahead of their competitors.

Whilst this leads to effective and efficient operations, increased reliance on technology can also be the source of problems, either from the technology itself, human error or those with criminal intent.

What sort of businesses are impacted by cyber and technology problems?

Any business that uses Information Technology is at risk but particularly those offering online interaction with customers. Retailers, hotels, restaurants, financial organisations, publishing and media companies, IT and telecommunications companies and utility providers are considered to be more vunerable.

Companies that act as suppliers or partners to other companies by supplying hardware, software or telecommunications services should also make sure that possible risks to their own business or their clients’ are fully understood and properly insured.
What are the threats to your business?
Business can be exposed to increased costs, reduced revenue and reputational damage by cyber crime or technology failure.  Many of the following risks are not covered by conventional insurance policies:

unauthorised access to networks,
eavesdropping,
identity spoofing,
loss or theft of equipment,
hacking and virus attacks,
denial-of-service attacks,
software failure,
breach of contract
equipment failure,
operational technology errors,
privacy breaches,
defamation and infringement of intellectual property from use of electronic media.

Can you get insurance against cyber and software risks?

With our specialist knowledge, expertise and experience, we can help you cover many types of risk associated with this evolving area.

At Nsure Chartered Insurance Brokers, we are dedicated to ensuring our clients are properly protected at the best possible price.We have been making certain that companies claims are settled quickly and fairly for over 35 years.

If you want to make sure you are not paying too much for your policy, but still want to protect your business properly, call Nsure Chartered Insurance Brokers now on 01903 520200 or email insurance@nsure.co.uk