Why Cyber Insurance Is Worth It
Modern businesses rely on IT systems. Even a small cyber-attack can halt your shop, stall productivity, and damage your reputation. Nearly two-thirds of UK small businesses experienced a cyber incident in the past year. That makes cyber insurance a vital safeguard.
What Does Cyber Insurance Cover?
Cyber insurance typically provides protection for:
- Data theft & ransomware – including ransom payment and cleanup
- Viruses and system hack attacks – plus associated losses
- Loss of income – if you cannot trade during recovery
- Regulatory fines & GDPR?related penalties – including potential ICO fines of up to 4?% of turnover or €20?million, whichever is greater
- Accidental data loss – like file deletion or hardware failure
- Cyber crime – e.g. phishing, social engineering, business email compromise
What Isn’t Covered by Cyber Insurance?
Cyber policies usually do not cover:
- Physical damage to IT hardware
- Intentional or criminal acts by your employees
- Old software without security updates
- Fraud not enabled by cyber attack
(Check your policy wording for complete exclusions.)
First Party vs Third Party Cyber Cover
- First party cover protects your own losses: data recovery, network repair, and business interruption costs
- Third party cover supports claims by your clients or partners who have been affected by your breach
A combined policy gives you complete protection.
Why Choose Drayton for Cyber Insurance?
- Local specialists in Norwich & Ipswich - We understand the unique threats facing East Anglian businesses.
- Expert advice with personal service - Our team works with leading insurers—Aviva, Allianz, AXA, Zurich—to tailor cover to your needs.
- All?in?one solution - We cover both first?party and third?party exposures.
- Connected partners - We’ll help guide you through incident response, ICO notification, and ransomware situations—all included in your policy.
- Fast, clear claims support - If your systems are attacked, we help manage incident response and cover replacement costs or business interruption.
Frequently Asked Questions
Is my business too small to be hacked?
Not at all. Two?thirds of small UK businesses faced cyber-attacks in the last year. Ignoring cyber risk could cost your reputation or livelihood.
Won’t insurers refuse to pay ransoms?
Many insurers include ransom payment as part of their breach response services if it is the fastest way to restore your systems.
What if I can’t trade after a cyber incident?
Your cyber policy can cover loss of income and support the recovery of data and IT systems.
Secure Your Business Today
Don’t wait until a breach hits. Get comprehensive cyber insurance from Drayton.
Get a quote or call us now on 01603 954?841.
