Cyber insurance

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Why do I need Cyber insurance?

Businesses of every size rely ever more heavily on technology and data to survive and thrive. But they are also learning how this reliance can leave them vulnerable. Cyber attacks have become more frequent and more sophisticated in the last year.

How would your business cope with a breach in data security? What if that breach lost you customers or affected your ability to trade and interact with suppliers?

Traditional insurance might cover electronic equipment against fire, flood or theft, but it won’t cover what is really important if your systems are breached or data is lost.

If you want to protect against the financial impact of cybersecurity failures, then make sure you arrange cyber insurance, also known as data protection insurance, for your business.

What is cyber insurance?

You are responsible for the data held within your business, as well – of course – for the quality of your computer systems. Any cyber attack or data breach can result in costly restoration and recovery of systems and data. Cyber and data protection insurance specialists can step in, to make sure any associated costs and loss of income are covered.

Prevention is hugely important, so proper cyber security, staff training and accreditations such as Cyber Essentials certification are all vital. But when things go wrong, as with other areas of your business, insurance should be there to minimise the costs and disruption. As awareness of cyber and data insurance increases, it is now the fastest-growing class of insurance.

Watch the video below for more information about Cyber Insurance from Sutcliffe & Co.

Watch the video here for more information about Cyber Insurance from Sutcliffe & Co.

What should my insurance cover?

Many policies can be extended to include a range of benefits such as:

Payment of fines & penalties

Payment of ransoms & extortion

Cover for lost or disrupted income

Cover for physical injury/damage

The cost of phone hacks

Cost of notifying your contacts

Incidents at your outsourced service providers

Social media risks

What types of cyber attacks are there?

There are three key types of cyber crimes reported in the UK:

Hacking

Where an external agent accesses your company’s systems

Ransomeware

Where your data is encrypted and a ransom is demanded for its recovery

Malware

Where your data becomes vulnerable after a phishing attack

If sensitive customer data is subject to a hacking attempt, UK businesses must report breaches to the ICO as a breach of GDPR. In addition, cyber crimes should be reported to Action Fraud. These reports will be made public and this lead to reputational damage.

Frequently asked questions & resources

How do I choose the right cyber insurance?
Cyber insurance can be known by many different names: cyber and data insurance, hack insurance, computer virus insurance, virus insurance and cyber liability insurance, to list a few. With so much variation, it can be confusing to know what comprises a good cyber insurance policy.
At Sutcliffe & Co, we advise that a good cyber and data liability insurance policy will cover the costs of both your own losses and third-party losses for which you may be held responsible. It will also cover accidental incidents as well as deliberate breaches, be they caused by your own staff or outsiders such as hackers or even suppliers.
This Guide to Data Protection, produced by the Chamber of Commerce in conjunction with local specialists, gives a great overview of cyber security for small and medium-sized businesses.
Why is Cyber Insurance important?
Data security breaches aren’t usually covered in a standard business insurance policy. Just over four in ten businesses (43%) and three in ten charities (30%) reported having experienced any kind of cybersecurity breach or attack in the last 12 months. More of us than ever are at risk of negative outcomes. (Cybersecurity Breaches Survey 2025)
Small businesses face around 65,000 hack attempts daily (AN Security), with 1.6 million UK businesses suffering successful hacks every year. Cyber insurance specialists can provide your business with peace of mind should you fall victim to this common security risk.
Negative impacts of cyber security breaches include:
Temporary or permanent customer loss
Time lost in business shutdown
Computer system outages
Personal and business data loss
Reputation damage amongst customers and trading partners
How much does Cyber Insurance cost?
Without cyber insurance, you would need the equivalent specialists at costs in excess of £500 per hour each. That is before you even consider the length of time you could be out of action, the reputational harm and the other costs and damages you could face.
Don’t think your business is not at risk: if you employ people and they use computers, email or websites then you are vulnerable.
Cyber insurance premiums vary based upon your level of risk: face-to-face food service businesses will carry less cyber security risk than data-heavy financial or legal companies. Contact us for a competitive quote – tailored to your business size, industry and network security.
Generating secure passwords
Crisis management service
A good cyber policy will do so much more than present you with a cheque in the event of an incident.
Sutcliffe & Co’s cyber insurance provides a comprehensive crisis management service, following an established process:
You experience a cyber or data incident
You contact your cyber insurance company who launched its crisis management procedure
Technical & forensic specialists pinpoint and stop the problem. Systems and data restored
Legal experts appointed to ensure compliant response, acting for you in any legal or regulatory disputes
Public Relations consultants act to minimise repetitional damage and handle correspondence with your contacts, notifying them of the situation
Fines and penalties paid
Defence costs and damages paid
Hack insurance
With Cyber Insurance sometimes being referred to as Data Protection Insurance, Hacker Insurance, Breach Insurance or Virus Insurance, it can be confusing to know what comprises a good cyber insurance policy. At Sutcliffe & Co, we advise that, ultimately, a good cyber policy will cover the costs of both your own losses and third-party losses that you may be held responsible for. It will also cover accidental incidents as well as deliberate breaches, be they caused by your own staff or outsiders.
Guides and documents
Why you should consider Sutcliffe & Co insurance brokers for your cyber insurance.
Sutcliffe & Co has achieved BIBA Accredited Cyber Insurance Broker (ACIB) status and is now featured in the newly launched BIBA Cyber Insurance Broker Directory. Unveiled at the BIBA Conference 2026 on 13 May, the directory is designed to help UK businesses access specialist cyber insurance expertise through accredited BIBA brokers.
As one of just a handful of insurance brokers across the UK to receive the prestigious ACIB accreditation, Sutcliffe & Co has been recognised for its specialist knowledge and expertise in cyber risk protection. The accreditation demonstrates the firm’s ability to advise businesses on managing cyber threats and securing appropriate insurance solutions.

Your business is important, let us help you protect it

What our customers have to say

“Sutcliffe and Co have acted as insurance brokers for our three companies for more than 10 years. Over that time, Stewart has looked after our insurance needs with skill and diligence and we have benefited enormously from his wealth of experience and knowledge. Stewart has a very good understanding of how our business operates and has always provided appropriate and timely advice, highlighting issues and risks that we may not have considered. I know that that I can trust Stewart to provide the advice that we need to effectively manage the potential risks to our business, and I would not hesitate to recommend Sutcliffe and Co as a trusted and professional insurance broker.”

MR HARRIS

K ENGINEERING CO LTD

“We’ve been with Sutcliffe & Co. for over 5 years and they’ve helped us with claims, queries and urgent changes in cover. Tom understood the specifics of our business and the risks an MSP and Cyber Essentials seller faces, and made sure the cover was appropriate and well-priced with CFC – giving me comfort that our business is protected.”

David

COO

Amazing Support

“I cannot recommend Sutcliffe & Co more highly. I had to renew my Tour Operator insurance during the Covid crisis and Duncan was extremely knowledgeable and insightful about what was happening in the travel industry. He went out of his way to find the right insurance for me, despite it being a challenging time. He gave me excellent advice and took the time to get to know my business and understand what needed to be covered in detail so I feel confident that I have the right cover in place going forward. Thank you so much.”

JOOLS SAMPSON

RECLAIM YOUR SELF RETREATS

Your business is important let us help you protect it

Get in touch with us and see how we can assist your cyber insurance needs.

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Cyber insurance

Your business is important, let us help you protect it

Why do I need Cyber insurance?

What is cyber insurance?

What should my insurance cover?

Payment of fines & penalties

Payment of ransoms & extortion

Cover for lost or disrupted income

Cover for physical injury/damage

The cost of phone hacks

Cost of notifying your contacts

Incidents at your outsourced service providers

Social media risks

What types of cyber attacks are there?

Hacking

Ransomeware

Malware

Frequently asked questions & resources

Your business is important, let us help you protect it

What our customers have to say

Your business is important let us help you protect it

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