Cyber attacks are one of the biggest risks facing businesses today, so companies must ensure they have robust IT security and comprehensive Cyber Insurance in place.
Our Cyber policy protects against the range of risks associated with digital technology and provides critical support in case of a cyber event.
Cyber crime accounts for 50 per cent of all reported UK crimes, and nearly half of British firms have suffered an attack in the last year. With almost every aspect of modern business relying heavily on information technology, a cyber attack can cripple a company’s operations. Increasing legislation about an organisation’s responsibilities in the event of a cyber attack only adds to the burden for companies.
To make sure you are protected, our underwriters will work closely with you to create cover that suits your specific needs. We take the time to understand your business from top to bottom, so we can provide bespoke cover that protects you against current and emerging cyber risks.
We’ve teamed up with a panel of experts to provide 24-hour support if you experience a cyber event. That might involve providing a forensics team to work out how the cyber breach happened and how to fix the problem; legal advice relating to fulfilling regulatory requirements; or managing a PR response to minimise any impact to your reputation.
Our panel of experts includes:
At QBE, we don’t believe in just covering risks; we help you to manage and reduce them. We are delighted to offer our insureds a range of risk management support tools including:
And for those companies, whether they have bought a cyber insurance policy or not, that would like to understand more about how protected they are when it comes to cyber risk, QBE has developed its own proprietary Cyber Risk Profiler. This tool allows companies to benchmark themselves against best practice standards and provides each user with a report including explanations and tips on how to improve their cyber risk posture. The report can also be used to obtain a cyber Insurance quote from QBE.
We have specialist cyber underwriters across our offices in the UK, Europe and Canada who provide Cyber Insurance to companies all around the world. We can also provide policies in a range of languages. For companies with operations in multiple territories, we can write global cyber programmes.
Our Cyber policy is modular and can include cover for:
- Cyber liability
- Online media liability
- Data breach legal costs, forensics and PR
- Credit monitoring and identity theft costs
- Regulatory defence and penalty costs
- Payment Card Industry Data Security Standards costs
- Data restoration
- Cyber business interruption
Potential extensions include:
- Full media liability
- Cyber crime (sub-limited)