Key Points:
Cyber risks can come from the malice of others, or the
negligence of your own organisation.
Every day we share more information electronically, and
companies handling this increasing volume of data face increasing
risks from hackers, viruses and human error. These risks may lead
to privacy breaches, system shutdowns or even electronic blackmail.
This can have significant impacts on companies – practically
and legally. Beyond the immediate costs to resolve these issues,
there can be profound impacts on reputation and liability to third
parties.
While companies usually can articulate these risks, they are
often ill-prepared for them when it comes to insuring them. It may
not be enough to rely on traditional property and liability
policies to cover cyber risks. However with greater awareness of
the risks, and of the benefits of bespoke cyber risk insurance,
companies can limit their exposure against the unknown and
unexpected. In this article we'll
