Cyber Insurance

Cyber Insurance

At DPI our knowledgeable team are here to provide you with professional advice to ensure that you understand your risks and select the most appropriate covers for your company’s needs.

The world of risk has changed, thieves have diversified online and Cyber-attacks present a significant threat in the modern world. Cyber insurance protects you from cyber-attacks such as phishing, data breaches and ransomware. 95% of all cyber losses are due to human error and the cost and volume of claims is increasing.

DPI are here to alleviate your stress by approaching our specialist underwriters on your behalf to ensure that you have the appropriate policy cover. Our qualified broking team are on hand to offer professional advice and guidance tailoring insurance to your company’s unique needs. We pay close attention to the detail which enables us to align your requirements with a policy that will perform to your expectations should you need to claim.

Cyber Insurance Myths Debunked

Virtually all businesses have a risk from Cyber-attacks. Ask yourself if you had no access to your systems, server, email or website, how long would it take before this impacted on your income and ability to trade?

Cyber insurance is much more than data breach and privacy risk. Two of the most common claims are funds transfer fraud and system damage or business interruption as a result of ransomware. The NotPetya ransom outbreak targeted the manufacturing and logistics industry and was estimated to have cost £1 billion with the majority of loss relating to operational disruption leading to business interruption and rebuilding/replacing systems.

No I.T service provider can guarantee 100% protection from Cyber-attacks. In fact, I.T Service providers commonly recommend Cyber insurance as they are acutely aware of the high level of risk Cyber-attacks pose irrespective of the preventative measures they take for clients.

Typically I.T service providers contracts make no allowance for the costs of dealing with a Cyber-attack. If your provider has the skillset to help, this service would normally be at a significant additional cost. Cyber insurers have specialist claims teams at the forefront of Cyber-attack technology, also providing PR advice and guidance to mitigate reputational damage.

We’ve all heard about major corporations falling victim to cyber-attacks because they’re reported in the news, but you don’t hear about losses to small firms that aren’t newsworthy. This however doesn’t mean the losses don’t occur. A recent Verizon report found that 58% of victims were small businesses. Cybercriminals see smaller organisations as low hanging fruit because they often lack the resources to heavily invest in I.T security or provide cyber security training for their staff, making them an easier target.

Consistently Delivering Excellent Service

Our customers are at the forefront of our business and we are committed to providing the highest level of service possible. For the last three years we have achieved the Feefo Gold Trusted Service Award, with a service rating of at least 4.9/5, meaning that this year we have gained Platinum status.

Frequently Asked Questions

Cyber insurance protects you from cyber-attacks such as phishing, data breaches and ransomware. 95% of all cyber claims are due to human error*, this could include claims such as an individual attaching an incorrect file and leaking individuals’ personal information.

To enable our specialist team to provide you with a quote, you can:

  • Call 0161 763 5277 and select option 1

  • Complete our Quick Quote form

  • Talk to us via live chat

A dedicated advisor will then make contact to complete a detailed fact find to understand your business, assess your risks and pinpoint those you wish to protect. This information will then be submitted to the appropriate markets from a large panel of A rated insurers, specialist underwriting agencies and the Lloyds market.

Once we have sourced the most suitable and competitive Cyber Insurance for your needs, you will be provided with a written quote and guided through the quote terms, so that you have complete understanding and peace of mind.

The cost of cyber insurance typically ranges anywhere between £200-£5,000, however this is dependent on your business activities, annual turnover and claims history.

To enable our specialist team to provide you with a quote, you can:

  • Call 0161 763 5277 and select option 1, or

  • Complete our Quick Quote form, or

  • Talk to us via live chat

DPI has a dedicated and experienced claims department who are here to provide you with step by step guidance, alleviating any stress or complexity when making a claim. We are committed to ensuring that you receive the best outcome for your business.

It is essential that claims are notified as soon as possible – Find out why on our Claims Guidance page.

In order to make a claim on your Cyber Insurance Policy:

  • Outside 9am – 5pm please revert to the emergency claims line in your policy documents

  • Between 9am – 5pm Call 0161 763 5277 and select option 3 for claims or email claims@dpi-insurance.co.uk

  • Our claims team will then take the time to fully understand your loss and register your claim

  • Your Cyber insurer will instruct the relevant departments such as I.T Forensics and Public Relations

  • We will liaise with you and insurers in order to facilitate an efficient and prompt route to a satisfactory claim settlement

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Why Choose DPI Insurance

Why choose DPI Insurance - Tailored Policies, Competitive Prices and Customer Service

Sources*

Crawford & Company Optimum Speciality Risks