What is Cyber Liability?
Of all the other liabilities you need to consider in your business, Cyber Liability is one which has emerged as becoming more and more necessary as our reliance on IT systems increases and criminals take advantage of this.
Fortunately, MCM Insurance Services have an answer to this, and are able to provide a number of Cyber Liability quotes sourced from specialist insurers who are fully prepared for the risks around cyber crime.
What are cyber risks?
Cyber crime affects businesses of all sizes, targeting weak security systems and using IP theft. Breached systems can leave customer data exposed, and IT equipment unusable. This can have an impact on the day to day running of your business, but also the future of your business, as news of data breaches can damage the reputation of your organisation.
What does Cyber Liability cover?
Cyber Liability will help you manage such a predicament if and when it occurs, with cover that includes PR crisis management, defence costs, solicitor’s fees, and reimbursement for awards and damages paid out to any customers, clients, suppliers or other third party members who have found their details to have been leaked.
Do you need it?
If you store personal data on computer systems, no matter how large or small in volume, Cyber Liability really needs to be on your checklist of essential liabilities, as the costs of managing a data breach could be immense, especially if you need to compensate each individual who has been affected.
Cyber Security during COVID-19
With millions of employees now working from home, companies are having to look at how to keep as many business-critical functions running as possible while at the same time maintaining adequate security. Read our blog and full guide on cyber-security to stay as safe as possible.
For a range of quotes or more information on Cyber Liability Insurance from MCM Insurance Services get in touch here or call us on 0161 786 3150.