Cyber Liability Insurance - from Edison Ives

Cyber Liability Insurance

As technology becomes increasingly important for successful business operations, the value of a strong cyber-liability insurance policy will only continue to grow. The continued rise in information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. Regulations such as the General Data Protection Regulation (GDPR) must also be considered, because a loss of sensitive personal information may subject you to fines and sanctions from the Information Commissioner.

In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, protecting yourself from cyber-liabilities is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies. Call today on 0113 3904646.

What is Cyber Liability Insurance?

A traditional commercial insurance policy is extremely unlikely to protect against most cyber-exposures. Standard commercial policies are written to insure against injury or physical loss and will do little, if anything, to shield you from electronic damages and the associated costs they may incur. Exposures are vast, ranging from the content you put on your website to stored customer data. Awareness of the potential cyber-exposures your company faces is essential to managing risk through proper cover.

As reliance on technology continues to increase, new exposures continue to emerge. As your business grows, make sure your cyber liability insurance cover grows with it. Edison Ives is here to help you analyse your needs and make the right cover decisions to protect your operations from unnecessary risk. For more info email Edison Ives.

The Threats

Data breaches – Increased online consumer spending has placed more responsibility on companies to protect clients’ personal information.

Business/Network Interruption – A cyber issue that cripples your IT could cause you or a third party that depends on your services, to lose revenue.

Intellectual property rights – Your company’s online presence, whether it be on your website, blogs or social media, opens you up to exposures such as libel & copyright infringement.

Damages to a third-party system – If an email sent from your server has a virus that crashes the system of a customer or the software your company distributes fails you could be held liable for the damages.

System Failure – A natural disaster, malicious activity or fire could all cause physical damages that could result in data or code loss.

Cyber-Extortion – Hackers can hijack websites, networks and stored data, denying access to you or your customers.

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Defining, Identifying and Limiting Cyber Crime

Types of Computer Intrusions

  • Viruses – A virus is a tiny piece of software that attaches itself to a program on your computer. From there, it can attach itself to other programs and can manipulate data. Viruses then quickly spread from computer to computer, wreaking havoc. Email viruses became a popular method for hackers to infect computers in the late 1990s. These early viruses were triggered when a person downloaded an infected document. When the document was opened, the virus would send that document to the first few recipients in the person’s email address book. Some email viruses were so powerful that many companies were forced to shut down their email servers until the virus was removed.
  • Worms – A worm is a computer program that copies itself from machine to machine, using a machine’s processing time and network’s bandwidth to completely bog down a system. Worms exploit security holes in software or operating system, spreading very quickly and doing a lot of damage to a business.
  • Trojan horses – Common in email attachments, Trojans hide in otherwise harmless programs on a computer and, much like the Greek story, release themselves when you’re least expecting it. And also like the story, the computer user has a part in letting the Trojan into the system. Trojans differ from viruses in that they must be introduced to the system by a user. A user can knowingly or unknowingly run an .exe file that will let a Trojan into the system.
  • Spyware – Spyware can be installed on a computer without the user ever knowing it. Spyware is used by hackers to track browsing habits or, more importantly, collect personal information such as credit card numbers and bank details.
  • Logic bombs – Logic bombs are pieces of code that trigger upon the happening of an event. For example, a logic bomb could be set to delete all the contents on a computer’s hard drive on a specific date. There are many examples of disgruntled employees creating logic bombs within their employer’s computer system. Needless to say, logic bombs can cause serious damage to a company’s digital assets.
  • Denial of Service (DoS) and Distributed Denial of Service (DDoS) Attacks – DoS and DDoS attacks are used to send an overwhelming amount of data to a target server, rendering that server useless. A hacker does this by gaining control of a number of computers and then sends a large amount of data to a target server that it can’t possibly handle. The result could be thousands or millions of pounds in lost sales for an online retailer.

Limiting Intrusions

  • Firewalls – Firewalls are pieces of software that control the incoming and outgoing network traffic on a computer system. Most computer operating systems now come with a preinstalled firewall for security. While they are not the be-all end-all of preventing intrusions, they are a reliable start.
  • Routers – Routers are  hardware that keep unwanted traffic out of a computer system. They differ from firewalls in that they are standalone devices that must be bought separately–they are not included in an operating system.
  • Antivirus programs – Antivirus software is designed to catch and eliminate or quarantine viruses before they can harm a computer system. Antivirus software runs in the background to ensure your computer is protected at all times. While they are updated frequently, they may not catch the newest viruses that are floating around.
  • Policies – Every company should have policies in place to educate employees on the dangers of computer intrusions and ways to prevent them. Make sure your employees know not to open, click on or download anything inside emails from untrusted sources. Employees with an intimate knowledge of the company’s computer network should also be alerted of the potential consequences of hacking into the system.
  • Common sense – Everyone claims to have it, but if that were actually the case, many viruses, worms and Trojans would cease to exist. The simple fact is that everyone in the company needs to exhibit some common sense when using a computer. Encourage employees to disregard emails with subject lines and attachments that seem bogus or too good to be true.

To discuss your insurance needs please call today on 0113 3904646, or visit our Contact Us page.

A Little Bit About Us

Getting a quote from Edison Ives

To source the cyber liability insurance quotation, we just need to understand a bit more about you and your business. We will then go about obtaining quotes, and then provide you with the best solution. In addition, we won’t just source insurance, we are there to act as your business insurance consultant, and support your business where possible. If you are happy with the quote you can pay there and then, via BACS or by taking out instalments and spreading the payments out over 6 or 10 monthly payments.

Who are Edison Ives?

At Edison Ives we’ve built up decades of experience and a network of cyber liability insurance underwriter contacts. We have access to ‘broker only’ markets, niche markets, major markets, and specialist underwriting agencies. As we’re not tied to anyone, or owned by a big corporate, we use the markets we choose, meaning we go where we feel is best for you.

We’re an independent business, supporting other independent businesses. We’re a ‘different’ kind of insurance broker and we passionately support other small and medium sized businesses wherever possible. We protect your business as if it was our own.

When you deal with Edison Ives you will get a dedicated account manager. This will be the same person that arranges your quotation, speaks to you at renewal and should the worst happen co-manage your claim. All our account managers have a cap on how many clients they deal with to ensure that that personal service is never lost. We are proud members Hedron Network and BIBA. To discuss your insurance needs please call today on 0113 3904646, or visit our Contact Us page.

Our Clients Rate Us

Fantastic service

Fantastic service from Maria and Ged at Edison Ives. Professional, friendly and courteous service, well done!

Chris Phillips
Great for start-up businesses

Amazing service. Quick and reliable help. Great for start-up businesses. Professional and very helpful staff. Will be back for sure. Strongly recommend.

Grazyna Marlewska
Everyone is so helpful

Would highly recommend Edison Ives, we have been working with them for our own policies as well as policies for clients. Everyone is so helpful. We recently needed an office insurance policy and Tim arranged for this to be sorted the same day for us. Thanks again!

Katie Johnston
Brilliant from the go

I spoke to Gobind Suryavansi who was brilliant from the go. I was pleasantly surprised with the amount of time he spent with me to ensure that the policy was tailored to my needs and that I understood what I was covered for. It was so refreshing speaking to a professional, who made the process so smooth and left me feeling very confident that I was covered in the event of a claim. Your a credit to the company and I will definitely be recommending you to my friends and family. Thanks again Gobind

Prep N Finish
Quality customer service

I have used Edison Ives twice in the past 6 months, dealing with Sarah Parnell, I have to say dealing with Sarah was a refreshing expereance based on dealings with other insurance Company's. Sarah is committed to Quality customer service and supplying the best product for the customer

Micheal Cranham
Specialist and very cost-effective

We have been working with Edison Ives for a couple of years now and have always been impressed with their focus on customer service. They have also managed to obtain specialist and very cost-effective cover, with innovative solutions to meet for our insurance needs. Highly recommended.

Japanese Knotweed Ltd
Fantastic experience

Fantastic experience with Edison Ives, and especially Gobind. Whereas most insurance brokers take days to get quotes in place, Edison Ives take a matter of hours. The whole process was simple, efficient and a very professional service. Would recommend to anyone.

James Aston
Efficient, professional and personable
Gobind has always been efficient, professional and personable when handling my insurance requirements. He is always happy to assist even if he does not initially secure the business
Edmund Parker
Very Professional

I dealt with Gobind for our Liability Insurance. He was very professional. Quick to reply with any queries. He made the whole process very easy.

Carla Davies
Very Helpful

Gobind was very helpful, he understood what I needed for my insurance and was very quick to get me the quote I was after.

Lindsey Hutchings
Extremely helpful and efficient

Extremely helpful and efficient - found me the cover I needed for a complex build project.

Sarah Louise
Significant cost savings

An incredible team. Fast responses to queries and full disclosure received from Tony - Every time. Significant cost savings found with no decrease in cover.

Michael Echakowitz
Flexible and accommodating

My husband just set up his first business and as many can relate to its very overwhelming with all the things needed to do including insurance. I looked around and dealt with a couple other companies which in comparison were a nightmare.

Gobind was amazing with communication, making the whole daunting experience a breeze and going the extra mile to provide outstanding customer service. The company is very flexible and accommodating wouldn't hesitate to recommend to any of my friend or family.

Angela Marafelia
Incredible

I spent months trying to find bespoke insurance cover for my small food business but kept getting really bad service, no information and refusal with no explanation. I’d almost lost hope but then I got through to Tony from Edison Ives and he was incredible. Not only did he spend the time to explain things thoroughly, he went out of his way to help me find the right insurance policy for my business. I’m a super happy customer and would Highly recommend! Thank you so so much.

Evey T
Absolute top man

I was let down by another insurance broker at 5 o'clock on a Monday night with a project mobilizing on the Wednesday morning for which I had to have Rope access insurance for at £10M ELI/PLI.

Tony called me back after hours on the Monday night, got all of the information required (walked me through the document) and then put in a monumental effort to get the quotations back before my mobilization time. As a comparison I had other insurance brokers only responding to my enquiry 24hrs later.

Tony got everything in place in time for us to go offshore and successfully deliver our project. Absolute top man and I will be back to speak to Tony for our next insurance coverage (with a bit more time to spare).

Michael Killeen Rope Access
Professional service

Tim Dixon provided very professional service giving me timely reminders and following up on my queries promptly. The policy is tailored to our needs and competitive. Excellent service and I would recommend.

Mike & Ali Scott
Outstanding and prompt

As a tree surgeon, I was struggling to find insurance to suit my company needs. I spoke to Tony at Edison Ives, his service was outstanding and prompt. He tailored my cover to suit my needs. Would absolutely recommend.

Jamie Morris Tree Surgeon
Very friendly & always helpful

I have been dealing with Edison Ives for a couple of years and fined that both Tony & Ged have in depth knowledge of the insurance required all the Staff are very friendly & always helpful we have developed a great working relationship which will continue for many years.

Del Russ Director
A high level of service and value for money

Edison Ives have provided me with a high standard of customer care and attention. Sarah and the team advised and sourced insurance cover that ensured our business properties and clients obtained a high level of service and value for money.

Stephen Carr
Extremely helpful and understanding of our business needs

We have held our Fleet and Professional Indemnity insurances with Edison Ives for a couple of years now and the service has always been second to none.

Sarah and the team respond promptly to any queries and we have always found them to be extremely helpful and understanding of our business needs.

We would not hesitate to recommend Edison Ives to any prospective customers.

Thank you.

Clever Energy Boilers

Tim Wilson Clever Energy Boilers
Excellent, professional service for our Buildings and Contents

Great Service as always from Sarah at Edison Ives. They provide an excellent, professional service for our Buildings and Contents insurance at our two Sites. Always a pleasure to deal with and nothing is ever too much trouble.
Dave Hill - Navigation Wealth Management

Dave Hill Navigation Wealth Management
Very professional, efficient and extremely helpful

We are delighted with the service received from Edison Ives, Ged and the rest of the team. We wouldn't hesitate to recommend them to anyone in future! Their advice and recommendations have been invaluable to us. Very professional, efficient and extremely helpful.

Katie Gordon
Very informative and knowledgeable

Top guys, very informative and knowledgeable, great value , we did all of our public liability insurance with this team , and would strongly recommend them . 10 out of 10 👍

David Harvey
Brilliant Service and very helpful

Very Professional and always goes the extra mile to get you the best deals. We have switched all our business and fleet to Edison Ives. Saved our company money, Brilliant Service and very helpful. Tony is excellent! Would highly recommend.

Michaela Ramsden
Extremely helpful and knowledgeable

Gobind is extremely helpful and knowledgeable. He went above and beyond to arrange the cover we needed and I have no hesitation in recommending him.

Geri Conniffe
Helpful, polite and professional
After many months of struggling to find the right insurance and speaking to MANY different insurance brokers, I felt that it was right to say a big THANK YOU to Gobind! From my experience, Gobind has stood out as being the most helpful, polite and professional person that I have had the pleasure to work with. Keep up the good work : )
Emma Brewster Business Owner
Professionalism, Responsiveness, Value
The leaseholders in my building recently took on the challenge of becoming freeholders and with the completion date looming, we needed to secure new building insurance. I ventured onto a comparison site and had a million calls from brokers offering their services and quotes etc. Of all, Tony from Edison Ives, was the most diligent, professional and responsive. Tony is very personable and made sure I had absolutely everything I needed (I ask A LOT of questions!) to make an informed decision along with a paper trail for reference and transparency. Based on my experience with Tony, I would definitely recommend Edison Ives and their services.
Tiffany Wint Property Owner
Extremely helpful and at very competitive cost
Very efficient prompt response with personal service.
Excellent follow up with all queries covered.
Extremely helpful and at very competitive cost
I would be happy to use again and recommend
Sue Harrower Landlord
Absolutely thrilled
Absolutely thrilled with the service from Edison Ives Insurance Solutions. A friendly welcoming conversation led to an excellent value quote, far better than previous premiums paid. Tony was supportive, efficient and incredibly swift to ensure that the needs of our newly formed RTM company were met. Honestly, he surpassed my expectations and made the whole process a simple pleasure. I would recommend Edison Ives without any reservation. You will not be disappointed!
Chrissy Gisbey RTM Company
Amazingly helpful
We contacted Edison Ives on a recommendation. Tony the gentlemen who dealt with our insurance quote was amazingly helpful. The experience was straight forward and clear. He got us a deal we are very happy with. 100% better than our previous insurance broker. I would recommend these company to anyone in need of insurance, you will not be disappointed. Thank you Tony & Edison Ives 🙂
Laura Musgrove Business Owner