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Cyber Insurance

11 October 2019

There has been a lot of publicity around Cyber Crime which is reaching epidemic proportions and a number of our clients have suffered losses as a result of criminal activity. The most common problem, which we wrote about to clients recently, is where someone hacks into a company’s email, intercepts a financial transaction and diverts the money to their own account. Initially larger amounts were targeted but thieves are now attacking businesses on much smaller sums.

When we initially investigated the insurance cover in the market we found that insurers were prepared to cover loss of data but not the financial loss from the situation described above. We are pleased to say that we are now able to provide this cover through Hiscox, one of the market leaders in this class of insurance. We are able to offer three options of cover with Financial Loss limits of £50,000, £100,000 and £250,000.

Please let us know if you would like a quote.

At Classic Insurance Services, we always like to keep up with the latest news so we can provide the best insight and knowledge to our clients.

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