Why Take Out Cyber Insurance For Your Business?

Cyber crime is one of the biggest growing problems in the world for modern businesses.

Data from the Government’s Cyber Security Breaches Survey 2021 showed that almost 40% of UK businesses have had a cybersecurity breach or attack in the past year.

The average cost to companies where the breach resulted in a loss of data or assets was around £8,460. However, this figure rises to around £13,400 for medium to large businesses.

Anticipating and defending against cyber attacks is part of running any modern business. Taking out cyber insurance will also give you much greater peace of mind.

Too often cyber security is a low priority, despite the fact the risks can be costly. Consequently, many businesses have left themselves vulnerable and open to attacks, often without realising it.

Cyber insurance will ensure you won’t have to worry about the financial costs if your business is subject to such attacks. It can also cover issues like infringement of copyright or trademarks, unauthorised use of your customer data, and much more.

Business Insurance Service can help find you a policy which protects against financial losses or claims as a result of damage, theft or loss of data from IT systems and networks

Discover more about our business cyber insurance or contact our team for more information.

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