Cyber Insurance and Privacy Insurance

Cyber Insurance and Privacy Insurance

Technology, data, and infrastructure are the oxygen of modern businesses. From a start-up hoping to make waves in media, to the laboratory business that’s developing next-gen medical devices – all organisations must embrace technology to thrive. But with new technology comes new risk, and that's where cyber insurance is essential.

The invisible threat of cyber-crime, combined with the potential for tech infrastructure to fail, and the ever-evolving regulatory landscape, represents a new minefield for modern business.

Unless your organisation carries specialist cyber insurance coverage against cyber security perils, you won’t be protected against the unique risks that arise when handling data and working in the modern, digital economy.

What if:

  • Your network or ‘cloud’ were hacked – and the data regulator insists you notify customers of the breach?
  • A malware attack interrupts your operations, leaving a hole in your revenues?
  • You incur cost in reconstituting valuable data that’s been stolen?
  • The data regulator enforces painful financial penalties on you following a breach?

In the wake of numerous high-profile cyber-crime cases, including network and data breaches, businesses globally are shoring themselves up against a range of new global tech and cyber risks. As experts in customised insurance for technology and mediatech businesses, La Playa is the ideal partner to design a watertight, tailored cyber insurance solution for your cyber risks.

Cyber Insurance cover can include:

Protection against costs, expenses and liability arising from:

  • Breach of Privacy or Confidentiality – critical defence against your liability for violation of privacy rights or breach of confidential information
  • Data Breach Costs – reimbursement of your costs incurred in dealing with a regulatory investigation, including post-breach costs such as legal, PR & crisis management expenses, customer notifications, credit monitoring and identity theft monitoring costs, and network forensics
  • Regulatory Fines or Contractual Damages – to reimburse sums you’re legally obliged to pay as a direct result of a breach of privacy law or contractual obligation, including PCI-DSS penalties
  • Cyber Liability – your liability for customer/user financial loss or denial of access.
  • Business Interruption – for your lost income as a result of viruses, network failure or damage, hacking or cyber-crime causing ‘down-time’
  • Data Extortion – protection against the threat of extortion as the result of ransomware, theft of data, or damage to your computer network
  • Problems with an outsourcer - we’ll help build protection wherever you face loss or liability, and wherever it arises in your supply chain – including cloud providers & overseas data processors
  • Costs of restoring or recreating data

We're able to reward clients' prudence in managing their Cyber and Privacy liability proactively - if you can demonstrate the precautions you've taken, we may be able to negotiate broader Cyber Insurance coverage at better rates on your behalf. 

Click here to take a trip with us through the cyber universe, or check out our guide: "Five Ways to Avoid a Data Breach" – get informed, clued-up and insured.

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“An innovative leader in providing insurance solutions to technology businesses.”

Michael B, Venture Capitalist

 

Ready to work with us?

You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

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About La Playa Science & Technology

Specialist & Independent

Specialist & Independent

La Playa's specialist Science & Tech team can help you protect your business with smart, flexible, high-performance insurance - with a friendly human UI. We understand the risks and pressures you face - and we speak your language.  We’ll support you with great advice - helping you make good decisions for your business. 

In-house IFA

We also offer Business Protection (including Key Person Insurance) and Employee Benefits: a joined up approach with a team of advisers working for your best financial interests - all under one roof

Advice You Can Trust

…from an expert who understands you

Tech-based business is 24/7, global and borderless, exposing you to new risks and liabilities - often in unfamiliar places. As the law struggles to keep pace with technology, insurance can provide a real safety net if you fall foul of changing legislation.

  • Specialist insurance for science and technology
  • Independent professional advice
  • Relationship-based service: right beside you when you make a claim
  • “Can do” culture
  • Seamless insurance across UK and US
     
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Hanna Beaumont FIRM

DIRECTOR, SCIENCE AND TECHNOLOGY

Direct Dial: +44 (0) 1223 200664

Mobile: +44 (0) 7795 473071

Email: hanna.beaumont@laplayainsurance.com

Twitter: @HannaBLaPlaya