Cyber insurance
Helping to protect your company from the ever-evolving dangers of internet-based attacks and scams, should the worst happen.NFP are a cyber insurance partner you can trust
Our cyber security professionals stay ahead of the latest trends and threats, and our network of diverse risk professionals ensure that we provide holistic, forward-thinking solutions. The result is a tailored cyber insurance solution that is best suited to your business needs and goals.
Listen to your needs
We will take the time to listen to and understand your insurance needs, no matter how routine or complex, and help to deliver cover that aligns best with what you’re looking for.
Understand your goals
At NFP, we understand the complexities presented by the cybersecurity space and that you will have your own specific goals and aspirations. Our experts are here to design a fully integrated approach to risk management with your goals in mind.
Create better outcomes
We’re serious about delivering on our promise to you. Whether you experience a lost laptop or a full-blown ransomware attack, our claims team will be here to help you achieve a fast, stress-free resolution to even the most complex cyber insurance claim or incident.
50%
of Irish businesses confirmed that their organisation had detected a cyber threat over the past 12 months
What is cyber insurance?
Cyber insurance relates to risks surrounding your company’s computer systems, and helps to cover many financial and reputational costs incurred should your business fall victim to a cyber-attack. Cyber-attacks - carried out by aptly named ‘cyber criminals’ - call upon a range of tactics to compromise your company’s sensitive information and exploit it, commonly for financial gain. With cyber insurance solutions designed for businesses of all sizes, we source comprehensive cover that helps to protect you against the very real and growing threats of the digital age.
Why is cyber insurance so important?
A data breach or hack could have serious impacts on you or your business, which might lead to:
- Legal action being brought against your company
- Loss of public trust
- Critical data being lost, a halt in trading and a subsequent loss of income
- Large-scale financial loss
- Identity theft
Who do we support with cyber insurance?
In today’s world, it’s unheard of for an organisation or home to not have at least some level of digital footprint. Cyber insurance is therefore crucial to all of us, as this age of digital reliance exposes our sensitive information to new, ever-evolving threats.
SMEs
You may not be a global entity, but that does not mean that the information you are handling cannot be exploited by cyber criminals. Even basic customer data is dangerous in the wrong hands, and we understand how harmful reputational damage can be to the future of an SME. We design our cyber insurance services with your business in mind and make sure that, if a data breach should happen, you are best equipped to weather the storm.
Large corporations
Naturally, the bigger your business, the wider the repercussions of a cyber-attack and, as a result, the more attractive of a target you are for cyber criminals. Cyber insurance is a therefore a must-have for larger corporations, to help to minimise and mitigate both the financial and reputational consequences should the worst happen.
Individuals
Individuals can also be targeted by hackers and, contrary to what you may think, anti-virus software cannot always protect you. With cyber criminals’ tactics becoming more advanced by the day, protecting you and the people you love has never been so important.
Frequently asked questions about cyber insurance
The covered costs can include investigating a cybercrime, recovering lost data, repairing computer systems, acting on your behalf if asked to pay a ransom, any loss of income, reputation management and notifying affected stakeholders. It also covers costs relating to any legal claims made against your business.
Whilst having an anti-virus software is a good start, cyber criminals have had long enough to find ways to bypass these security measures. Tactics like ‘phishing’ scams rely on people unknowingly giving hackers access to things like login details, which may not be prevented by the presence of an anti-virus software.
Demonstrating good office practice is great, but homeworking presents its own unique cyber security risks. At home we are usually in a much more relaxed frame of mind, and therefore our guard may not be up as high as it would be in a professional setting, meaning that it could only be a matter of time before your business’ data is accidentally compromised. If a data breach occurs while an employee is connected to the company network – no matter where they are - we can help you source an insurance plan that protects your business.
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