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CyberSAFE

Does your business rely on computers, online marketing or other technology-based services to operate? To keep your business safe online, Crombie Lockwood has exclusive access to  CyberSAFE. Underwritten through Lloyd’s of London CyberSAFE covers you for your own business losses as well as your liability to others as a result of cyber extortion or a breach in your network security.

CyberSAFE provides coverage for expenses like data and recovery costs, fines and penalties,  public relations and crisis management costs.

Who needs CyberSAFE?

The issue of cyber security is very real for every business. In today’s connected world, every company, irrespective of its size, relies heavily on technology and connectivity to operate its business. Data protection and network security are leading risk issues for all businesses.

There are new cyber attacks and threats developed every day by cyber criminals. Victims can include anyone – from individuals or small businesses, right up to large corporations.

If your business or computer network security were compromised there would be a financial cost. It could be lost revenue from being unable to sell goods or conduct the business, damage to reputation arising out of a breach of confidentiality and possible liability, or it could simply be the usually significant costs associated with cleaning and getting the network up and running again.

What CyberSAFE covers

Cyber insurance policies are there to help your business recover from a cyber event such as a virus introduced innocently through an email attachment, a hacker penetrating your security with ransomware or malware, a denial of service attack, a disgruntled employee acting maliciously, administrative errors, or a loss of data and breaches of privacy. We even cover issues from third party cyber service providers such as payroll processors, data back-up and cloud-based facilities.

Cyber insurance will respond to:

  • Loss of business income
  • Costs to restore the network
  • Costs to replicate/replace lost data
  • Liability for third-party damages and associated legal fees
  • Regulatory fines and penalties
  • Public Relations costs
  • Costs to notify affected individuals and identity theft monitoring costs
  • Forensics costs
  • Payment of ransom demands resulting from a network security breach

One key benefit of CyberSAFE is the 24/7 access to expert professionals who are there to help you restore your network and minimise your exposure to loss and liability. Cyber insurance response panels include lawyers, forensic experts, IT consultants, public relations firms, loss adjusters and other industry experts.

Cyber insurance solutions 

CyberSAFE is one of a number of cyber insurance solutions available to our customers. Contact us for a quote today.  We have a simple the application process for cyber insurance for businesses with under $10m in revenue. Just answering just three simple questions an immediate and bindable quotation can be provided on the spot without prior referral to an insurance company.
For complex businesses with special requirements, bespoke insurance solutions can be arranged. Our experts can work with you to create a tailored, cost-effective cyber insurance package to safeguard your business.

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