As businesses increasingly rely on technology to operate successfully, the importance of robust Cyber Insurance is growing rapidly. With the vast amount of information now stored and transferred digitally, the potential risks businesses face are escalating.
In today’s world, where incidents like a stolen laptop or hacked account can immediately expose personal customer data, protecting your business from cyber liabilities is as crucial as safeguarding against more traditional risks covered in general commercial liability policies.
Regulations like the General Data Protection Regulation (GDPR) also play a key role, as any loss of sensitive data could result in significant fines and penalties from the Information Commissioner.
Standard commercial insurance policies are typically designed to protect against physical damage or injury but fall short when it comes to defending your business from Cyber related threats and their associated costs.
Cyber exposures are broad, including everything from your stock management system to the sensitive customer data you store. Recognising the potential cyber risks your business faces is essential for managing them through adequate coverage.
A cyber-liability insurance policy can cover various potential exposures, including:
As technology continues to evolve, so do the risks associated with them and the opportunities for Threat actors to exploit them.
Traditional Cyber policies are just that, a static insurance policy that covers the consequence of an attack or breach, rather than providing proactive protection.
Many Cyber insurers are now able to provide pre-cover risk assessments of your digital exposure, while some also now provide ongoing scanning and threat detection to help avoid the need of ever having to claim.
The amount of cover your business needs will depend on your operations and the level of exposure you face. It’s vital to work with a broker who can assess your unique risks and tailor a policy that fits your business’s needs.
As your business grows, ensure your Cyber Insurance policy evolves with it. At Bullerwell, we have business insurance specialists who will help you assess your needs and make informed decisions to protect your business from unnecessary cyber risks.
Get in touch today to discuss your Cyber Insurance and ensure your business is protected from cyber criminals, breaches, and attacks.
Arrival is a technology group focused on innovation within the automotive Industry to create new mobility solutions. The Arrival Group is changing the way the Auto Industry manufactures 2nd generation electric vehicles impacting the vehicle production line, making vehicles highly customizable to introduce new variants in months rather than years, with consideration of the sustainability our products and supply chains and a software enable hardware mentality. As a constantly evolving business we need our insurance broker to provide advice and support on the risks we face, which by the nature of our pioneering technologies are often new and evolving risks unique to us and it is essential our Risk Transfer programme reflects this and remains flexible including covering our overseas facilities. Damon and his team at Bullerwell’s have supported us along the entire journey from conceptual start ups through to market launch and have been invaluable in the support and advice they continue to provide.
As a charity, which generates virtually all its income from a commercial building it is important that we safeguard our asset with adequate insurance. Bullerwell & Co have assisted us over many years with providing the necessary cover, including finding cheaper alternatives. They have also helped with other queries we have had and provided other advice such as we should consider seeking a professional reinstatement valuation, as it had been a period of time since the last.
Fantastic customer service with spot on advice when we need it. Would definitely recommend them to anyone.
J.E.T. Construction (Milton Keynes) Ltd have found Bullerwell Ltd to be professional and helpful, well experienced with the requirements of our industry. They are always at the end of the phone to provide advice and guidance as needed. I have no hesitation in recommending their services.
Bullerwells have been our brokers for 30+ years. We know the staff by name and they have a complete grasp of our requirements. They are absolutely on the ball with additions, claims and renewals. It makes our life easy when dealing with these matters and I couldn’t rate them more highly. They are more than competitive on our behalf and where else can you actually speak to the CEO if you need to!
We have dealt with Bullerwell Insurance Brokers for more than 12 years now and have always found them to be very helpful, approachable, and knowledgeable. They always dealt with us with professionalism and go the extra mile to help out. We would highly recommend them
Bullerwell & Co have assisted us over a number of years in providing Legal Indemnity solutions for our clients. Often the transactions we deal with throw up complex and unusual insurance requirements that sit out-side traditional off the shelf indemnity policies. Bullerwell’s expertise in this area means that they are able to provide bespoke solutions designed specifically for our client’s needs which helps to enhance and bring value to the transaction
Loyalty has to be earned; at GCMC Ltd we have awarded Bullerwell (and their partner insurer Ecclesiastical) with our specialist requirement for first-rate Grade 1 Buildings Insurance cover, for several years now. Our beautiful, grand old Elizabethan Manor House deserves the very best of cover, care, and, attention. The Bullerwell team, in our view, reliably and repeatedly satisfy this unique demand.
We were initially introduced to Damon Blakey of Bullerwell’s by our Lawyers to provide a free due diligence audit of our cover in preparation for an important large contract tendering process, on the back of the in-depth, excellent and impartial advice provided , we decided to appoint them as our brokers. They have continued to provide proactive support and advice throughout the years, adapting our insurance programme as we have developed, including the challenging demands of Exporting to the USA, they remain a trusted advisor to the business, friendly, efficient, and always responsive to our needs.
Having initially traded in the Agricultural industry since 1983, our business model had evolved somewhat by 2015, with no active involvement in Agriculture and considerable involvement in pre-construction, environmental and civil engineering; having insured us since the 80’s, our existing insurers were struggling to fully understand our operations and offer suitable insurance to ensure cover our operations. We were introduced to Bullerwell at a business networking event and Damon Blakey attended our offices to discuss our requirements. Very quickly it became apparent that Damon and Bullerwell had a good grasp of what we did and the insurance we required. Bullerwell efficiently took our requirements to market and secured better insurance than our existing policies, whilst still saving us money. Bullerwell’s team are always efficient, friendly and professional- nothing is too much trouble, should we need to claim, their team are always on hand to help.
Bullerwell are an insurance broker you can trust, they have helped us overcome many challenges in the last few seasons and always provided the right solution with first class customer service. Having just launched our new charitable arm, Blues Foundation, we were walking into a world of the unknown, Heidi and the team took all the concerns away from us and provided the cover we needed across the whole business.
My company Laxmi Investments Ltd is in the business of renting commercial properties. We moved our business from an Agent we had been with for some 30 years to Bullerwell in 2014. We have found them to be on the ball, friendly and very upfront with their advices and personal touch with their CEO Dean Oldham. Further, they are extremely efficient and robust in the event of a claim and handle it all the way to its conclusion.