OUR CYBER INSURANCE PROPOSITION
Providing our customers with cover that works in the real world is what we do at Miles Smith. And the real world is now very much online. The spiralling volume of information stored and transferred electronically has resulted in an increase in the potential exposures facing businesses. Because of this, cyber liability insurance is a necessity as a traditional commercial insurance policy is extremely unlikely to protect against most cyber exposures.
Responding to a cyber breach is all about reacting quickly before too much damage is done, so that’s a key part of our proposition.
The cover we arrange for our customers has a First Response facility built into the policy, which if required can also have the benefit of being completely excess free for 48 hours. With First Response you get:
• Access to a helpline 24 hours a day, every day of the year. As soon as you identify a breach, or a suspected breach, call the helpline to receive a swift response.
• Advice from a Breach Coach who will help you isolate the affected area, notify your customers, retain necessary forensic professionals and manage crisis communications.
There’s so much to consider. Amongst other perils, the policy that we provide to our customers protects against data breaches as standard and can be extended to cover business and network interruption, intellectual property rights, damage to third-party systems, system failure and cyber extortion.
Increased online consumer spending and recent GDPR legislation has placed more responsibility on companies to protect their clients’ personal information as they can be sued by affected parties following a data breach.
If your business operations require the use of computer systems, a disaster that prevents you from accessing or operating your systems could cause you to lose significant potential revenue.
Your company’s online presence, be that your website, a blog or social media, opens you up to the same exposures faced by publishers. These include libel, copyright or trademark infringement and defamation.
If you inadvertently transmit a virus to a third-party customer or supplier by email, USB or other means, you could be held liable for the damage caused.
A natural disaster, malicious activity or a fire could all cause physical damages that could result in data or code loss and reduced ability to trade.
Hackers can hijack websites, networks and stored data, denying access to you or your customers. They often demand money to restore your systems, as well as cause a temporary loss of revenue.
The Miles Smith team work with you to ensure your business has the appropriate cover to protect you against cyber risks.
To find out more contact your Account Executive or call the Miles Smith team on 020 7977 4800.
MILES SMITH ARE PLEASED TO OFFER OUR CUSTOMERS THE ABILITY TO QUICKLY AND ACCURATELY REPORT MOTOR CLAIMS
Your drivers can have the app on their mobile device so when an accident or incident occurs they are ready to capture vital on-screen information and imagery that will be sent directly to you and the Miles Smith claims team, helping to increase the accuracy of the information and the speed at which the claims are handled.
Users of the app are already seeing the time between the accident or incident occurring and it being reported cut by over 90%.
For further information, or for assistance setting your app up, please contact:
If you’d like to find out more about our cyber proposition and how we can help you reduce your cyber crime risk contact your account executive or call the Miles Smith team on 020 7977 4800.
A construction contractor with a £2 million turnover was recently a victim of a cyber attack. Several of its employees clicked on a seemingly innocent link contained in an email that appeared to have been sent from an authentic source. Their system was immediately infected with Crypto Locked Malware which prevented users accessing their data. Although the network was down for less than a day, the cost to the business was £50,000. That’s 2.5% of annual turnover gone in the blink of an eye.