According to a recent report, cyber-attacks are now seen as the single biggest threat to UK businesses, yet only 10% of SMEs have insurance cover in place should the worst happen.
You may think that a cyber-attack is unlikely to affect your business, but bear in mind that 58% of small and medium-sized businesses have experienced a data breach. Data held by small businesses is low hanging fruit – hackers know these enterprises lack the security and resources of their larger counterparts. In the first nine months of 2018, 71% of ransomware incidents impacted small and medium-sized businesses.
Incidents can have serious financial consequences as well as causing long-term damage to customer relationships and reputation.
How can Tect help?
Working with, Beazley, our specialist insurer partner, TECT can provide you with access to a comprehensive set of solutions created to protect your business from the dangerous world of cyber risks.
Beazley Breach Response provides breach response services for up to 5 million persons along with coverage for payment card industry costs, regulatory defence and penalties, and first-party and crime coverage.
All Beazley Breach Response policyholders have access to pre-breach and risk management services and in the event of a cyber breach, policyholders will work directly with Beazley’s in-house breach response team and Beazley’s claim team to resolve the incident.
What next?
Speak to a member of the team today on 0203 199 5141 to discuss a Beazley Breach Response policy for your business.