Use of the internet brings with it a vulnerability to dangers including deliberate attacks by thieves and data losses caused by human error. A UK Government survey estimated that in 2014 81% of large corporations and 60% of small businesses suffered a cyber breach with the average cost of a cyber-security breach is £600k-£1.15m for large businesses and £65k-115k for SMEs (source: Association of British Insurers).
Some key reasons why P F Spare Insurance Brokers recommend businesses should consider purchasing cyber insurance are:
• Cyber crime is one of the fastest growing forms of crime in the world.
• Cyber threats are at the cutting edge of technology making it almost impossible for individual companies to keep pace.
• Businesses are increasingly dependent on IT for their everyday activities with not limited solely to information being stored but also telephone and payment systems operating through computer-based technologies.
• Cyber attacks and failures can result in businesses closing or having to dramatically change what they do.
• P F Spare Insurance Brokers are ready to offer businesses the innovative protection they need (see below).
Through our online quote and buy business insurance website, NiceQuote, a trading style of P F Spare Insurance Brokers and operated in conjunction with Professional Insurance Agents Limited, we are now able to offer Cyber Liability Insurance, provided by Hiscox, with an extensive array of covers.
If you would like an instant online cyber liability insurance quote, simply click here and you can get an instant quote and buy your insurance online in minutes. You will receive all policy documentation immediately after purchase.