Cyber insurance can help protect businesses from a range of cyber events, including ransomware attacks, privacy breaches, and incidents caused by human error. Our policies offer comprehensive coverage, including regulatory defence, fines, and penalties, which are not solely triggered by a data breach.
Recent statistics have shown half of UK businesses (50%) experienced some form of cyber attack or security breach in the last 12 months.1
To address this, we’ve developed a specialised cyber security insurance for small business to medium enterprises, tailored to the unique requirements of SMEs. This solution offers a comprehensive range of benefits, including:
- efficient quotation delivery;
- enhanced market wording;
- competitive pricing;
- and complementary risk management and cyber incident management solutions.
Not sure what to do next?
Many of our clients didn’t know where to start either. We work with our insurer partners to arrange a cyber insurance policy that is right for you, helping you understand how much cyber insurance you need. Simply call us or get in touch, and we’ll call you.
- Available to all UK businesses
With annual revenues up to £50 million.
- Competitive coverage
Secure up to £10 million in limits.
- Value-added services
We provide cyber incident management (CIM) and risk consultancy services to support prevention and response to a cyber threat or incident. Other risk management services may be available within your quoted insurance premium or provided as a bursary.
Enhanced cyber security and business insurance cover
To help you combat the evolving cyber risk landscape and the increasing threat from cyber criminals, we’ve negotiated better coverage options for our clients, which would be difficult to find elsewhere. These coverage elements include, but are not limited to:
Proof of loss sublimits
To assist insureds in providing an accurate account of loss following a business interruption event.
Enhanced cyber crime sublimits
Including fraudulent transfer of funds, telephone fraud, and cryptojacking which are not commonly available in the open market on cyber policies.
Regulatory defence, fines, and penalties
Comprehensive cover that is not solely triggered by a data breach, providing extra protection.
Other enhancements include: restricting exclusions, reduced conditions precedent language, and extended indemnity periods for business interruption events.
Business risk management add-ons
Optional risk management and loss prevention services which could be included within the premium or provided as a bursary.
The cyber insurance process
Step 1 Assess
Speak to an adviser or our Cyber team to complete our risk assessment form. Insurers value this questionnaire and will reward completion by offering enhanced terms and premium savings.
Step 2 Advise
Following completion of the assessment your information is securely sent to our panel of facility insurers who will provide a quotation.
We compare the cyber insurance quotes and provide you with a comprehensive comparison of coverages and risk consultancy services.
Step 3 Act
Accepting the quote – but this is not the end. At Marsh Commercial we are committed to helping you on your cyber resilience journey.
Our team is available to provide ongoing guidance, assist with implementing cybersecurity measures, and offer professional support to align your incident management approach.
Not sure what to do next?
Many of our clients were unsure about how cyber insurance works or where to start. We work with our insurer partners to arrange cyber insurance cover that is truly right for you. Simply call us or get in touch and we’ll call you.
Frequently asked questions
A
Cyber insurance is a specialised insurance policy designed to protect businesses from the financial impact of cyber events, such as data breaches, ransomware attacks, and other cyber threats. Given that 50% of UK businesses experienced a cyber attack in the last year, having cyber insurance can help safeguard sensitive customer data and cover legal costs associated with privacy breaches.
A
The cost of cyber insurance can vary based on several factors, including your annual turnover and the specific coverage options you choose. At Marsh Commercial, we work with our insurer partners to provide competitive pricing and tailored solutions that meet the unique needs of small to medium enterprises.
A
A
Certain industries, particularly those that handle sensitive customer data or have higher exposure to cyber threats, can greatly benefit from cyber insurance. Our policies are available to all UK businesses with annual revenues up to £50 million, ensuring that a wide range of sectors can access the protection they need.
A
In addition to coverage, our cyber insurance policies often include value-added services such as cyber incident management (CIM) and risk consultancy services. These services support businesses in preventing and responding to cyber threats, enhancing their overall network security.
