Cyber and Data Insurance for Professionals

Insuring your firm against cyber-attacks and data breaches

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Did you know that the average cost of a cyber-crime for a small business is over £8,000?*.

At Aon we recognise the growing risk this imposes on professional firms and individuals which is why we can arrange a policy that reflects the requirements and risk profile of this sector.


Standard features of the policy

The insured may purchase the following covers separately, if a coverage has not been purchased that coverage will not apply.

Cyber Liability Insurance

Cyber liability insurance is used to guard your business against internet based threats – helping you to recover any costs suffered if the worst case was to happen. The policy will:

  • Pay damages and claims expenses the insured is legally obligated to pay following a data or security breach
  • Cover is provided for penalties and claims expenses the insured is legally obligated to pay because of a regulatory proceeding brought against the insured following a data or security breach
  • Cover for PCI fines which they are legally obligated to pay
  • Cover for liability incurred in the course of creating, displaying, broadcasting, disseminating or releasing media material to the public

First Party cover

Covers for cyber extortion payments, the cost of restoring / regaining access to your computer systems and loss income due to cyber business interruption.

 

Data Breach Response Services

Our Data breach response service is designed with your needs in mind. We’ll quickly source the right team of experts to guide you through the challenges of a breach, unauthorised access, or any other data emergency.

Breach Response Services

In the event of a data breach, Beazley will provide a full breach resolution service including expert assistance, crisis management and public relations support to mitigate its impact on your business.

 

eCrime cover

  • Covers you for the losses resulting from any payments made to someone impersonating a client, vendor or employee that is intended to mislead you.
  • Covers you against any direct financial loss that arises from a third party gaining access to your telephone system and using it in an unauthorised manner.
  • Payment of criminal reward funds

^Terms and conditions apply


Eligibility

To be eligible for this policy you must be a professional firm (excluding firms in the legal sector), with annual revenue of up to £5m and fewer than 10,000 records containing personally identifiable information. If you fall outside the criteria, please call us on 0333 9203 274to discuss your requirements in full detail.

*Source: https://www.fsb.org.uk/skills-hub/fsb-infohub/cyber.htmlCyber and Data Insurance is arranged by Aon UK Limited and underwritten by Aon Underwriting Managers (AUM), which is a Managing General Agent operating under a delegated underwriting authority on behalf of Beazley. Aon Underwriting Managers is a trading name of Aon UK Limited..

The following products or services are not regulated by the Financial Conduct Authority:

Breach Response Services provided and facilitated by Beazley

Why choose Aon as your Insurance broker?


Dedicated client manager

We are one of the UK’s leading insurance brokers and were ranked 4th (by brokerage) by Insurance Times in their 2021 report (September 2021).

Dedicated client manager

Dedicated client managers who will be there to assist you from start to finish throughout the customer journey.

Cyber and Data Insurance FAQs


Will this cover help if I’ve been the victim of a ransomware attack?

You would need to take out the optional First Party cover to be insured against any losses, including any payments made to the hacker, as a result of a ransomware attack or other cyber extortion event. You will also be insured against any loss of income due to not being able to access your systems.

Will this policy cover any fines under GDPR?

GDPR fines are not insurable under UK law but the standard liability cover will cover any compensation claims and the breach response service can help reduce fines by mitigating the impact of the breach.

Will this policy cover previously undiscovered cyber-attacks?

This policy will protect you against cyber-attacks and data breaches from when they were discovered rather than when they happened.

Will this policy help if I’ve been the victim of phishing?

Phishing attacks come in many forms with many different outcomes. If the result of the phishing attack is that you have been tricked into paying a fraudulent invoice, you won’t be covered by the standard policy and would need to have taken out the optional fraudulent instruction cover to be protected. If a phishing attack resulted in a hacker gaining access to your systems and stealing customer files, you will be covered as standard under the policy.

Will this policy cover data breaches that are a result of our failings?

You will be covered as long as the cause of the breach does not conflict with the security requirements of the policy agreed at the time i.e. all mobile and portable storage devices must be encrypted. No insurance policy will cover you for breaches that arise as a result of deliberate acts by your firm.

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