Lockton's Cyber Liability insurance protects your computer systems and data through a comprehensive, affordable policy tailored to your specific risk profile.
Cyber-attacks are slaying proverbial giants each and every year, and disrupting and destroying small business with similar vigour. Reputation in business is built in years, and destroyed with as little as a single click of a button.
As with most other sectors in our economy, Financial Institutions (FI's) are seeing cyber risk grow each year as ransomware, data breaches and insider threats grow in severity and sophistication. Lockton's specialist Global Technology and Privacy Practice are at the forefront of the fight against this invisible enemy.
For many FI's, the chief source of threat will come from reliance on IT platforms – whether they hold large volumes of personal data or not. In either case, a Cyber Insurance policy provides a comprehensive degree of cover, protecting a business from the financial losses incurred from the activities commonly following a breach where insurable by law. These include first-party costs for IT forensics, legal and PR assistance, cyber business interruption, and third-party liability claims, fines and penalties.
Typical cover available via our proprietary policies include:
- Breach event costs
- Loss of digital assets
- Non-physical business interruption
- Network security and privacy liability
To discuss the extent to which you are already covered for these risks by your existing insurances and whether Cyber Liability Insurance would be right for you, or to discuss access to our range of online client resources, contact our Global Technology & Privacy Practice for impartial, expert advice.