Cyber Liability Insurance

What is a cyber attack?

A cyber-attack is a criminal action carried out over the internet using computers.  The main reason for this is usually financial gain. The Offenders can commit crimes from their own homes. They are extremely hard to trace due to the changing and sophisticated nature of the attacks they can carry out.

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There are many different types of cyber-attack. The most common type is ransomware. Many Irish organisations get hit with these attacks which denies them access to their system until a ransom is paid.

Who should by cyber insurance?

If your company holds client data, you should consider protecting yourself with cyber cover. There is a misunderstanding that cyber-attacks only happen to large companies. The fact is cyber criminals commonly target smaller businesses, hoping their systems are more exposed and so easier to break into. Check your current insurance policy – most standard commercial policies will not provide cyber-attack cover as standard which leaves you exposed.