Top UK cyber insurance providersWith cyber insurance developing as a market in response to rising cyber attacks, we look at the top cyber insurance providers in the UK
Cyber insurance is an emerging market that’s starting to thrive in the UK. However, it’s important to note that before you start choosing from cyber insurance providers, you should read the policies offered carefully, and consider speaking to an independent broker for advice.
Hiscox offers companies cover based on their individual needs, and assist with a variety of attacks.
Its offering covers any GDPR non-compliance claims, data breach investigation, advice and compensation, as well as any needed repair or replacement.
Also offered is a spot on their training scheme, the CyberClear Academy, which trains participants in cyber security to ensure that they can protect their company and keep security in their own hands.
To find out about Hiscox’s cyber and data insurance services, click here.
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The service is aided by California-based consultancy CYENCE, which helps the provider gain complete understanding of cyber incidents.
Aviva offers 24/7 support from experts to policyholders which aims to ensure rapid response.
To find out about Aviva’s cyber and data insurance services, click here.
AIG’s cyber insurance services range from network interruption and cyber extortion to telephone hacking and computer crime.
24/7 support is also offered with priority to policyholders.
Pen Underwriting is another provider that offers a range of incident cover as standard, including cyber extortion, data breach costs and multimedia liability.
Additionally, Pen have introduced a cyber insurance guide for brokers.
The cyber insurance services offered by Bluefin Professions specialises in cyber crime cover and internal damage limitation for IT systems.
Services include cover for data breach costs, network interruption costs and compensation for response to privacy regulator investigations.
Alongside these, Bluefin also offers step-by-step risk management advice.
To find out about Bluefin’s cyber and data insurance services, click here.
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CFC Underwriting‘s cyber insurance is split into services for private companies and large corporate firms.
This means that its services are tailored for the size of the company that’s making the claim.
CFC’s policies are also divided by sector, including cover for professional services, retail and healthcare, so risks that are specific to a certain sector can also be addressed.
To find out about CFC Underwriting’s cyber and data insurance services, click here.
Companies that choose NIG as their cyber insurance provider will be able to do so on a ‘Statement of Fact’ basis, meaning that a proposal form isn’t required.
All claims are instantly documented and kept on NIG’s online database, The Hub.
24/7 support is offered, and cover is offered for cyber crime up to £100,000.
To find out about NIG’s cyber and data insurance services, click here.
The provider also analyses companies in order to tailor its services to them specifically.
Customers get to access QBE’s Cyber Risk Management Portal free of charge.
To find out about QBE Europe’s cyber and data insurance services, click here.