The rise of the internet has released great potential for businesses of all kinds, but it has also led to new kinds of risks – risks that businesses need to protect themselves against.
So what are those risks? For any business that stores sensitive information on its computer systems there are a great number of different threats that may turn day to day operations on their head. These include:
- Electronic security breaches leading to theft of company data
- Security breaches resulting in the theft of customer data (passwords, payment details etc)
- Denial of service to key online portals and software (also known as DDoS attacks)
- Damage to company or third party systems or websites as a result of cyber crime
The cost of any one of these can be significant, whether it’s the price of recovering lost data, compensating or placating customers who have suffered loss as a result of a data breach, or any other costs of managing a crisis situation caused by cyber crime.
And how can businesses protect themselves from this very 21st century threat? The answer lies in cyber liability insurance.
Park Insurance – Cyber liability insurance you can trust
At Park Insurance we understand only too well the risks that are inherent to doing business online. We aim to protect our clients against these worries, and to provide you with the peace of mind you need to carry on business as usual. That will not only reassure you, but your customers too, protecting both your business and your reputation.
Cyber liability insurance can be tailored to suit the type and size of your business. So if you’re an e-commerce company it might cover you for any costs arising from the theft of customer credit card details from your servers. Or if you’re a provider of online software solutions, it could provide cover for any claims made against you by clients for loss of service.
At Park Insurance we have more than 20 years of experience in providing specialist insurance. As the internet has grown, we have watched the risks evolve and have worked with some of the UK’s top insurers to help develop solutions that will protect you and your business from the financial chaos that a cyber attack could cause. Get in touch today to discuss your cyber liability needs and we’ll talk you through the options available and how you can defend your reputation, your customers and your business from online attacks.