The policy gives you access to an incident manager who will connect you to the appropriate cyber response experts – IT forensic, PR, legal, regulator / data subject notification, call centre and credit monitoring costs. They will help you through the incident, seeking to minimise damage to your organisation.
New Dawn’s cyber insurance provides worldwide cover for a broad range of risks. Our easy-to-understand language enables companies to make an informed decision. The product has been designed with low premiums, no hidden charges and free cancellation.
Cyber insurance is a key component of an effective risk management strategy. By having this insurance in place, you are safeguarding your business in the event of a crisis. Companies that meet our standards for cyber security will be rewarded with a discount.
Cyber insurance is designed to protect businesses from both online and offline cyber threats. It provides businesses with the vital support needed in a time of crisis to help mitigate the immediate effects of a cyber incident and to help a business back to its feet again.
Cyber risk is now accepted as a business risk. Whether you hold sensitive information (names, address or banking information) on your employees and clients or rely on computer systems to operate your business you are at risk of falling victim to a cyber incident.
Purchasing cyber insurance can demonstrate to clients and regulators that you are taking a robust approach to security and a mature approach to protecting your business. As cyber incidents become more prevalent, firms will be expected to have certain levels of protection in place and cyber insurance is a key component.
Cyber insurance and cyber security are very much complementary measures of a business’ cyber resilience. Neither one should be used in place of the other but rather applied in parallel to ensure the maximum protection.
Cyber incidents are not the preserve of financial institutions or large corporations. Increasingly small and medium size businesses are just as much at risk if not more so due to their often weaker cyber security and lower cyber awareness.
Cover for the costs associated with responding to a regulatory investigation (such as GDPR) arising out of a privacy event. This may include legal advice, notification costs, defence of regulatory action etc. The accompanying fines will be covered to the extent they are insurable by law.
The inability of a business to operate as a result of a cyber incident can be ruinous. The business interruption cover under a cyber policy helps to alleviate this effect by covering the loss of income and extra expense as a result of a security failure.