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Cyber insurance

It was only one click. Just one little click. Really not your fault at all. Anyone could have done it. You were busy. It was Monday morning and you were quickly trying to get through all your emails so that you could make a start on the mountain of work that needed doing.

But that one little click meant that none of those tasks could get done. It meant none of your colleagues could do their work either. Even the website ground to a halt.

It was a virus.

It flashed up on your screen like the evil it turned out to be. Your heart was in your mouth and your palms were sweating. What should you do?

Don’t let this happen to you

As businesses become ever more reliant on technology, the risks from suffering a loss related to problems with a computer system, mobile device or network continue to grow, as does the reliance and value of our sensitive data. This can lead to a loss of revenue, a regulatory fine damage to your business reputation and considerable business interruption.

Is your business at risk?

Your business could be vulnerable to a data breach or loss of vital business services if you:

  • hold sensitive customer details such as names and addresses or banking information
  • are reliant on computer systems to conduct your business
  • have a website
  • are subject to a payment card industry (PCI) merchant services agreement.

Our partnership with Hiscox on this project enables us to access their wide policy coverage at exclusively reduced premiums, with additional benefits which include:

Breach costs

We offer practical support in the event of a data breach (electronic or otherwise) including forensic investigations, legal advice, notifying customers or regulators, and offering support such as credit monitoring to affected customers

Crisis containment

In the event of a data breach, prompt, confident communication is critical to help minimise the damage to a company’s reputation. We include crisis containment cover with a leading public relations firm who can provide expert support, from developing communication strategies to running a 24/7 crisis press office.

Cyber business interruption

We will provide compensation for loss of income, including where caused by damage to your reputation, if a hacker targets your systems and prevents your business from earning revenue.

Cyber extortion

We will protect you if a hacker tries to hold your business to ransom with any final ransom paid, as well as the services of a leading risk consultancy firm to help manage the situation.

Hacker damage

We will reimburse you for the costs of repair, restoration or replacement if a hacker causes damage to your websites, programmes or electronic data.

Privacy protection

We will pay to defend and settle claims made against you for failing to keep customers’ personal data secure.
We will also pay the costs associated with regulatory investigations and settle civil penalties levied by regulators where allowed.

Multimedia liability

The policy includes protection if you mistakenly infringe someone’s copyright by using a picture online for example, or inadvertently libel a third party in an email or other electronic communication.

How can you cover yourself against this threat?

The Trust Group has partnered with PGI Cyber to offer our clients access to Cyber security expertise. Registration to the portal is £395 + VAT – successful completion of the portal entitles you to a certification against basic level Cyber Essentials and an exclusively discounted insurance package.

CLICK HERE NOW to register


PGI Cyber has created a Cyber Services portal, which supports online certification of the Cyber Essentials process.
The portal incorporates a straightforward self-assessment process, granting greater transparency and understanding of a business’s cyber vulnerabilities and how best to mitigate them, please refer to the demo which shows the design and easy layout of the portal.
You have five different sections to complete. At any point within the assessment you will be able to refer a question to a colleague and if required we are able to provide additional support.
Once the assessment has been completed and submitted, it will then be pushed to PGI Cyber’s internal assessors. Once successful you will receive a certificate, along with the Cyber Essentials logo for your companies use.

It can happen…Here are some claims examples that have been settled by Hiscox:

The client was contacted by a government agency and advised that government security services had detected an intrusion on its systems. Hiscox’s IT forensic experts were deployed to investigate and assess the extent to which the network had been compromised. A significant amount of malware was discovered on the client’s servers so a containment plan was executed to remove all malware. The client was also able to take legal and PR advice under their insurance cover to help them decide how and when to communicate this incident to their clients.

The Technology Business and Malware COSTS COVERED BY HISCOX £250,000
An employee from a chain of opticians – received an email to say that she had been caught speeding and clicked the button which offered to show a photograph of her being caught in the act. Shortly afterwards the client received an email from someone in Russia to say that they had infected their systems with the Cryptolocker virus and that all files on its servers were encrypted. The encrypted files included patient records and software used to run the business.

The Russians were asking for £400 in Bitcoins for the decryption key. Hiscox approved the client’s payment of the ransom. Unfortunately this only recovered 90% of the files and they needed an IT contractor to help them recover the remainder. Their insurance policy covered this business interruption as well as the costs of being unable to trade for a couple of days and not being fully up-to-speed for a couple of weeks. 

The Optician held to Ransom COSTS COVERED BY HISCOX - £60,000

Do you have any questions..

Please contact our cyber insurance specialist Stuart Pigram on 01476 434050 or email your enquiry to stuartpigram@thetrustgroup.co.uk