Industry News

More businesses than ever are facing the threat of losing confidential information.

More at Risk Than Ever of Having Your Cyber Security Compromised

 

September 2014


The research, commissioned by the Department for Business Innovation and Skills (BIS), showed that 87% of firms employing up to 50 staff had experienced a security breach and the trend is increasing. The average cost of the worst breach for small companies was between £35,000 and £60,000. Some attacks caused more than £1m of damage and this can be very significantly higher for larger businesses. That’s why we are recommending that all of our clients take this threat to their businesses seriously.

Consider the following questions:-

  • Do you have a website?
  • Do you hold HR/payroll data on your network?
  • Do you hold third party data?
  • Do you store sensitive data that is accessible via your web server?
  • Do you allow third party access to your network?
  • Do you allow staff to use the internet or email?
  • Do you transact or communicate any business via a website or email?
  • Do you hold any customers card or personal details on your network

If the answer to any of these questions is “Yes”, you potentially have cyber liability exposures that may not be covered by traditional insurance policies but can be covered by a bespoke Cyber Liability policy.

Please call us if you want to discuss this emerging exposure in more detail.