Cyber Protection / Cyber Risk Insurance for your company
Protect your company from computer attacks. C1 Broker your Insurance Broker helps you find the right product.
Digitization has brought many benefits but also new dangers. One of them is the constant computer attacks . This insurance allows you to protect your company’s data, web pages and equipment .
Some insurance companies have launched a couple of years ago, this type of insurance, called cyber protection or cyber risk. If you’ve ever heard of cyber attacks, don’t think it happens only to others. Unfortunately they are increasingly frequent and Spain is the third country (after the United States and the United Kingdom) with the most cyber attacks on companies in the world (statistics speak of 400 computer attacks on companies every day, being that small and medium companies are the favorite targets of such attacks).
Cyber protection insurance It has a series of pre-accident services performed by engineers and experts in risk prevention and analysis. The objective of cyber risk insurance is to protect your company against equipment theft, hacking, computer attacks, extortion, theft or data leakage.
Cyber risk insurance will help you if ...
A hacker (computer hacker ) manages to enter your system, paralyzes your files or destroys the configuration of your software and does not allow you or anyone in your company to work …
When you suffer a computer attack and this causes damage to the hardware of your computers or printers.
If you are a victim of theft of your clients’ personal data.
If you cannot access data or strategic information essential to your company, the insurance will take care of recovering that data so that you can continue working.
Cyber insurance also includes liability coverage, for example, against third parties, if you are a victim of data theft and your clients report you, or if a hacker creates false accounts on behalf of your company and publishes false information with The aim of damaging your reputation or causing complaints from third parties.
If today having a web page is so important for the presentation of your company, marketing and distribution of your products and services, imagine that someone manages to access and freeze the web, not allowing your customers to buy. The cyber risk insurance will act efficiently in the recovery of the web so that you can return to your activity as soon as possible.
If due to this computer attack you have had to paralyze your activity (for example, your online store has been hacked and you cannot sell or ship products), the insurance has coverage for loss of profits due to activity paralysis due to cyber attack.
There are all kinds of situations that happen online, extortion, fraud and identity theft . Cyber protection insurance helps you in case of extortion, for example, if a hacker locks your company’s equipment and asks you for a ransom value (so-called cyber extortion). There is a team of experts who will go to work to help you unlock the equipment. Likewise, if your web page is stolen (they deconfigure it, impersonate it, etc.) they help you recover it and publish it on their site.
Cybercrime is always reinventing itself, frequent are phishing attacks sent by email. If one of your employees falls into fraud and makes a bank transfer, the insurance will cover that value.
Another problem is identity theft or identity theft, if a hacker impersonates your company to carry out certain transactions, the insurance will take care of the expenses of that illegal operation and of recovering the keys to the identity of your company.
In addition to these coverages, depending on the type of cyber risk insurance you choose and the insurance company, it has several other additional protection services: Cybersecurity Assistance, Protection Software, Backups, Diagnosis and analysis of external and internal network vulnerability, legal advice on data protection, reputation analysis of your company on social networks, and much more.
As it is a very specific insurance, we recommend that you consult correctly before deciding on one product or another. At C1 Broker, due to our digital commitment, we have digitization specialists who can advise you correctly and help you choose the appropriate cyber protection solution for your company. Cyber risk insurance is modular, that is, in addition to the basic coverages it has a series of optional guarantees that we need to configure tailored to your branch of activity and degree of digitization of your company. Don’t worry, with C1 you will be in good hands.
What does cyber insurance cover?
Cyber protection insurance includes a series of pre-incident services carried out by engineers and experts in prevention and risk analysis. The aim of cyber risk insurance is to protect your company against equipment theft, hacking, computer attacks, extortion, theft or data leakage.
Cyber insurance has various coverages, here are some examples:
- A hacker breaks into your system, paralyses your files or destroys your software configuration.
- When you suffer a cyber-attack and it damages your computer hardware or printers.
- When you are the victim of the theft of your customers’ personal data.
- When you are unable to access strategic data or information essential to your business, the insurance will take care of recovering that data so that you can continue working.
- Website hacking – Nowadays it is essential to have a website for the presentation of your company, marketing and distribution of your products and services. Imagine that someone can access your website and freeze it, not allowing your customers to buy. The cyber risk insurance will act to restore the website, so that you can get back up and running as soon as possible.
- Cyber liability – Cyber or cyber insurance also includes liability cover, for example, against third parties if you are the victim of data theft and your customers report you, or if a hacker creates fake accounts in the name of your company and publishes false information with the aim of damaging your reputation or provoking complaints from third parties.
- Hacked online shop – If due to a cyber-attack of this type you have had to shut down your business (e.g. your online shop has been hacked and you are unable to sell or ship products) the insurance has cover for loss of profit due to business stoppage as a result of the cyber-attack.
- Extortion – There are all kinds of situations that occur online, extortion, fraud and identity theft. Cyber protection insurance helps you in case of extortion, for example, if a hacker locks your company’s computers and asks for a ransom amount (so-called cyber extortion). There is a team of experts who will get to work to help you unlock your computers.
- Site theft – Similarly, if your site is stolen (misconfigured, spoofed, etc.), they will help you recover it and publish it on your site.
- Pishing – Cybercrime is always reinventing itself, and phishing attacks sent by email are commonplace. If one of your employees falls for the scam and makes a bank transfer, insurance will cover that amount.
- Impersonation – Another problem is identity theft or impersonation, if a hacker impersonates your company to carry out certain transactions, insurance will cover the cost of this illegal operation and the recovery of your company’s identity codes.
In addition to these coverages, depending on the type of cyber-risk insurance you choose and the insurance company, you have at your disposal several additional protection services: Cybersecurity assistance, Protection software, Back-up copies, Diagnosis and analysis of the vulnerability of the external and internal network, Legal advice on data protection, Analysis of the reputation of your company on social networks, and much more.
As this is a very specific insurance, we recommend that you take proper advice before deciding on one product or another. At C1 Broker, due to our digital focus, we have digital experts who can advise you correctly and help you choose the right cyber protection solution for your company. The cyber risk insurance is modular, that is, in addition to the basic cover, it has a series of optional guarantees that we must configure depending on your branch and the degree of digitalisation of your company.
Contact C1 Broker and request a quote and advice on cyber protection insurance for your case.
It is certainly not easy to navigate in such a diverse sea of offers and choose the right cyber insurance for your company. At C1 Broker we study hundreds of policies and multi-risk products to always offer you the best coverage.
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