Cyber Liability
Why Cyber Insurance Matters When Your Systems Go Down
Cyber insurance helps your business deal with the financial and operational fallout of cyberattacks, data breaches and system failures.
If an incident stops you trading or exposes sensitive information, this policy can cover the work needed to investigate what happened, repair the damage, meet legal obligations and replace lost income while you get systems working again.
Digital disruption can stop everyday operations with little warning. A retailer may find their payment terminals offline, a wholesaler might lose access to ordering systems or a trades business could be locked out of scheduling tools after a phishing email. Situations like these can bring work to a standstill and create unexpected costs.
With this cover in place, you gain access to technical specialists, legal support and financial assistance during the recovery period, keeping your business going while systems are restored.
All Cyber insurance policies are arranged with FCA-authorised insurers, giving you confidence that the cover meets regulatory standards.
Why Choose This Cover?
With many SMEs depending on booking systems, payment tools, stock management platforms and customer data to stay operational, a cyber breach or outage can create immediate financial pressure. Cyber insurance supports you with the practical costs that follow, including system recovery, expert investigation and lost income during downtime. It also helps you with the regulatory and legal steps arising after an incident, which is particularly important for businesses that handle customer information or process online payments.
Choosing a Limit
How much cyber cover you need depends on the way your business uses technology and the type of information you store. Some organisations choose higher limits because restoring systems, notifying customers or dealing with regulators can become expensive quite quickly. Certain contracts may also state a minimum level of protection. If you are unsure what would be appropriate, our experts will look at your setup and help you choose a limit that reflects the scale of a potential incident rather than your routine workload.
What’s Included in Our Cyber Insurance
Incident response support
Access to specialists who help contain the issue, investigate what happened and guide your next steps.
System and data recovery
Costs for restoring software, rebuilding systems, recovering lost data and repairing digital assets.
Business interruption from a cyber event
Protection for lost income and the additional costs needed to keep operations moving while systems are restored.
Cyber liability protection
Covers claims brought by customers or other affected parties if their data is exposed or services are disrupted.
Unresolved security issues
If a system weakness was already known and wasn’t addressed, losses connected to that issue may not be covered.
Service outages without a cyber cause
Interruptions caused by maintenance work or non-malicious faults at a third-party provider are generally outside the scope of the policy.
Events that are not linked to a cyber incident
Cover applies only when there has been a breach, attack or unauthorised access. Losses from unrelated problems are not included.
Damage to physical property
Cyber insurance deals with digital impact. Damage to buildings, machinery or other physical assets would need to be covered by a commercial property policy.
Why Icon Risk
✓ Advice that reflects the way your business uses its systems and data
✓ Quotes turned around quickly when you need pricing
✓ A broker team you can speak with directly about your cyber risks
✓ Clear, plain explanations of what your policy covers
✓ Cover arranged through FCA-authorised insurers
✓ Options that fit the online tools and services your business depends on
✓ A claims process that keeps you updated without overcomplicating things
✓ Friendly support from a team of experts
FAQ’s
What is cyber insurance?
Cyber insurance helps businesses manage the financial and operational fallout from cyberattacks or data breaches. It covers incident response, system recovery, legal guidance, business interruption and liability claims.
Do small businesses really need cyber insurance?
Yes. Many attacks now target SMEs because they often have limited internal security resources. Even a simple phishing attack can pause trading, cause financial loss and trigger legal obligations.
Does cyber insurance pay ransoms?
Some policies include extortion response costs, subject to legal requirements. This typically covers specialist support rather than directly reimbursing ransom payments.
Is cyber insurance required by law?
No, but it is increasingly requested in supplier agreements, tenders and contracts, especially where data handling or online services are involved.
What counts as a cyber event?
Common triggers include ransomware, malware, hacking, phishing, data theft, unauthorised access, email compromise and system corruption caused by a cyberattack.
Will it cover mistakes made by employees?
Yes, provided the mistake leads to a cyber incident. Many breaches start with human error, such as clicking a malicious link.