CYBER LIABILITY INSURANCE

Cyber and computer crime is one of the leading risks facing businesses globally, with smaller businesses being particularly vulnerable. In Kenya alone, cybercrime costs the economy up to KSH 20 Billion annually. It takes just one successful cyber-attack to cause significant financial and reputational damage to your business.

 

When cybercriminals infiltrate a network, hold data hostage, or acquire sensitive data, the company they steal from can be held liable for the incident.

 

Put cyber security back on the agenda for your business and don’t let your core online systems be compromised. Safeguard your digital assets and the private information of your clients and employees with the right Cyber Liability Insurance.

 

What does Cyber Liability Insurance cover?

 

Cyber liability insurance protects your business against the expenses associated with data breach or an attack by a malicious hacker that affects the computer systems.

 

It will help you to recover from the financial repercussions of stolen data as a consequence of a cyber-attack by providing cover for costs of Regulatory Compliance, Data Recovery and Crisis containment/Reputational Support.

 

Benefits of Cyber Liability Insurance include:

 

  • The cost of breach notifications required domestically and internationally and regulatory responses.
  • Technical or legal services for responding to government inquiries regarding the cyber-attack
  • Forensic analysis and fees to determine the nature and extent of the breach
  • Crisis management including the cost of public relations campaigns
  • Cost to recover electronic data/restoration expenses
  • Liability and legal expenses to help cover settlements from possible stakeholder lawsuits, fines, investigations, penalties, and other regulatory actions
  • Business interruption and lost revenues

 

Who needs Cyber Liability Insurance?

 

All businesses, whether your organization is a start-up, a non-profit or a multinational, the right insurance can keep your company up and running in the face of a cyber-attack.

 

Levels of exposure are further complicated through the outsourcing of business functions to third parties such as payroll processors, data back-up and cloud related services.

 

A business could be exposed to cyber risk if it:

 

  • Engages vendors, independent contractors or additional service providers
  • Gathers personal or corporate information
  • Uses electronic processes or computers
  • Uses online applications
  • Has an online presence and/or point-of-sale machines
  • Has employees, particularly any potentially disgruntled employees
  • Has remote working outside a central place of business

 

At Walton Insurance we understand that a cyber-attack can be a stressful experience for your business, so having the correct cyber liability cover is crucial. You will have the funds to recover, rebuild, and restore your customers’ faith.

 

How do I start?

 

Don’t wait for a cyber-attack to happen. Protect your business now. Contact Walton Insurance today for a bespoke quotation.

0202400035 | info@waltoninsurance.co.ke

GET A FREE QUOTE TODAY

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