Cyber Insurance

Protect your business from the growing threat of cybercrime and data breaches.

From small start-ups to established organisations, every business now relies on technology to operate, managing emails, storing customer data, taking payments, or running online systems. Unfortunately, this also means exposure to cyber risks such as hacking, ransomware, and data breaches.

Cyber Insurance helps protect your business from these threats by covering financial losses, recovery costs, and liability claims following a cyber incident.

What is Cyber Insurance?

Cyber Insurance provides financial protection and specialist support if your business experiences a cyber-attack, data breach, or system failure.

It helps you:

Recover lost data and restore systems
Minimise financial losses and business interruption
Defend against legal and regulatory actions
Protect your reputation and customer trust

Who Needs Cyber Insurance?

Even small businesses and sole traders can suffer from cybercrime, phishing, or ransomware attacks, and the financial impact can be devastating without cover in place.

Cyber Insurance isn’t just for large corporations, it’s vital for any business that uses computers, the internet, or holds customer data. Common examples include:

Online retailers

and e-commerce stores taking online payments

Professional services

such as accountants, solicitors, and consultants handling client data

Healthcare and wellbeing providers

storing sensitive personal information

IT and digital agencies

managing customer websites or systems

Manufacturers and trades

using connected devices or automated systems

Charities and community organisations

holding volunteer or donor data

Hospitality businesses

using online booking and payment systems

What Does Cyber Insurance Cover?

A comprehensive cyber insurance policy can include cover for a wide range of risks, including:

Business and Financial Protection

Claims by Third Parties – Covers legal claims from clients, suppliers, or others affected by a data breach or cyber incident.
Business Interruption Loss – Protects against lost income if your business can’t trade following a cyber event (typically after a short waiting period).
Reputational Harm Loss – Covers loss of income or damage to reputation caused by negative publicity.
Betterment Costs – Helps you upgrade or replace damaged systems with more secure versions following an attack.
Claim Preparation Costs – Covers the cost of professional support in preparing and managing your claim.

Investigation, Recovery and Response

Remediation Costs – Covers the cost of identifying and fixing vulnerabilities after an incident.
Forensic Costs – Provides for specialist investigation into the cause and scale of the breach.
Incident Responder Costs – Access to expert cyber response teams to help contain and recover from an attack.
Data Recovery Expenses – Covers the cost of restoring corrupted, lost, or stolen data.
Hardware Replacement Costs – Covers the cost of replacing damaged or compromised computer equipment.
Cyber Risk Management Costs – Contributes towards training, audits, and system improvements after an incident.

Cybercrime and Extortion

Cyber Extortion Costs – Covers ransom payments, negotiation support, and response costs following a ransomware demand.
Third Party Funds Transfer – Covers losses resulting from fraudulent instructions that cause funds to be sent to the wrong account.
Third Party Funds Theft – Covers theft of money or assets belonging to third parties due to a cyber incident.
Cryptojacking – Covers the unauthorised use of your computer systems for cryptocurrency mining.
Telephone Hacking – Covers the cost of fraudulent calls made by hackers.
Criminal Reward Fund – Provides a financial reward for information leading to the identification or conviction of cybercriminals.

Legal and Regulatory Protection

Legal Representation Expenses – Covers the cost of defending your business in legal actions following a cyber event.
Regulatory Fines, Penalties and Investigation Costs – Covers legal expenses and investigation costs following regulatory enquiries (where legally insurable).
PCI Fines and Assessment Costs – Covers penalties related to breaches involving payment card data.
Public Relations Costs – Covers professional PR support to manage communication and protect your brand reputation.
Notification Costs – Covers the cost of notifying affected individuals following a data breach.
Credit Monitoring Costs – Covers the expense of providing credit monitoring services for affected customers.
Media Liability – Covers claims related to online content, including defamation or copyright infringement.

Why Cyber Insurance Matters

Cybercrime continues to grow rapidly, and small and medium-sized businesses are among the most frequent targets. Many attacks are automated, looking for unprotected systems or human error, so even cautious businesses can be caught out.

The consequences of a cyber incident can include:

Financial loss or theft of funds
Reputational damage and loss of customer confidence
Regulatory investigations and fines
Disruption to business operations
Costly system repairs and data recovery

Cyber Insurance provides financial support and expert guidance to help your business recover quickly and confidently.

Protect Your Business from Cyber Threats

At The Yorkshire Broker, we understand that every business faces different digital risks. We’ll take the time to understand your systems and processes, then arrange a cyber insurance policy tailored to your needs, so you can focus on running your business with peace of mind.

Call us on 01924 929070 to discuss Cyber Insurance for your business today.