We demystify cyber insurance and provide you with expert guidance and clear explanations, working with you to understand and manage your exposure to cyber threats.
In today’s digital world, cyber attacks can cripple your business operations, damage your reputation, and cause serious financial losses.
Our team work to help you recover from such incidents with customised coverage, but we also proactively identify your vulnerabilities, so that you can navigate the unpredictable cyber risk environment with confidence.
Protection against losses arising from malicious cyber acts and non-malicious cyber incidents
Cover for liability from failure of tech services or products
Coverage for costs that are incurred responding to a cyber incident
Coverage for the cost of recovering data due to a cyber incident
Protection against the cost of replacing computer hardware
Protection against losses incurred due to reputational harm as a result of a cyber incident
Protection against malicious cyber attacks
Protection against bodily injury or property loss from cyberattack
Non-physical cyber business interruption & dependent business interruption loss protection
Coverage for ransomware demands and negotiation expenses
Protection against financial losses arising from data breaches, cyber incidents, and failures to safeguard confidential or personal information
Coverage for financial losses arising from regulatory non-compliance
Covers PCI non-compliance fines, penalties, and assessments after payment card breaches
Protection against claims arising from media content, including defamation, infringement, and reputational harm
Reinsurance protection for losses arising from intellectual property infringement and related cyber claims
Bespoke cyber reinsurance solutions designed to address the unique profiles of specific industries
Bespoke solutions co-created for emerging cyber threats
Investment in employee training to prevent breaches
Structure and management of delegated authority arrangements that enable partners to efficiently underwrite cyber risks
Innovative structures beyond traditional cyber insurance models
We’re your extended team, providing crucial insights and capabilities. Our in-house cyber experts support you on a spectrum of cyber security issues, and provides training on the latest hot topics, from cryptocurrency to Internet of Things.
We’ve partnered with DarkWeb IQ to provide unmatched services. DarkWeb IQ intercepts the flow of stolen access credentials through the ransomware supply chain by impersonating criminal gangs and sourcing details of compromised businesses from the ‘access brokers’.
By doing this, DarkWeb IQ affords its you a window of time to address the vulnerabilities in your network and prevent a full-blown ransomware attack.
We cultivate a strong team culture where cross-functional collaboration drives alignment and success. We work closely with related BMS teams to bring you the best possible outcomes.
We understand each client’s requirements and risk profiles, and take pride in providing highly personalised solutions. Collaboration is key - by combining our strengths and sharing insights, we’ve achieved remarkable results together.
When change is a constant, you want to stay informed and stay ahead at all times.
For most businesses, surprisingly little. Insurers typically need basic information about your operations, revenues, IT environment and key cyber security controls—such as whether you have multifactor authentication in place and how you manage your backups and endpoints. For larger or more complex risks, additional information may be required, but we can provide advice and help keep the process focused and efficient.
Yes. Outsourcing IT or cyber security does not outsource your financial exposure. A failure or cyber incident affecting a technology provider can still disrupt your operations, cause loss of income and create liabilities to customers and other third parties. Cyber insurance can protect you when your own systems—or the providers you depend on—are compromised or simply fail.
Yes. Cyber insurance responds to a wide range of losses every year, from ransomware and incident response costs to business interruption and third-party liability. As with any insurance, whether a particular loss is covered depends on the policy wording and circumstances of the claim, which makes selecting the right coverage and insurer important.
Some of the high-profile coverage disputes historically associated with “cyber” losses involved traditional property or casualty policies that were never designed specifically to cover cyber risk. Dedicated cyber policies are designed expressly for these exposures and can provide broad, clearly defined protection.
London and Bermuda specialise in complex cyber risk. We can often provide broader coverage, higher limits, manuscript policy wording, and access to insurers with deep experience handling large cyber incidents and business interruption claims. Lloyd’s in particular has always been an innovative hub, often the first to test out new, expanded coverage, or wordings tailored to niche, industry-specific related cyber risks.
No. Modern cyber policies generally cover criminal attacks regardless of where they originate. Cyber terrorism is written into policies and not subject to terrorism exclusions, hence providing cover for everything from hacktivist style protests to more aggressive politically motivated events. War exclusions are also typically narrow and intended for state-sponsored acts meeting a high legal threshold – often only considered should an event be widespread and have a major detrimental impact on the country/state the insured is located.
You should do both. Cyber security reduces the likelihood of an attack, while cyber insurance helps absorb the financial impact when one succeeds—including business interruption, incident response, legal costs, and extortion expenses. No cyber security tool or combination of tools is impregnatable, and often cyber losses can come from events that can’t be controlled – missent files, lost data you’re responsible for but don’t control, or attacks on vendors that provide essential systems outside of your control.
Cyber risk extends well beyond privacy liability. A cyber attack can halt operations, encrypt critical systems, disrupt suppliers, and cause significant loss of income—even if you hold very little personal data. More often than not, organisations buy cyber insurance for the 1st party losses - business income loss or expenses to contain, manage and eliminate an event.
